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1. What are tokenization platforms?

2. What is Tokenization?
Tokenization is the process of replacing sensitive data with unique identification
tokens that retain all essential information about the data without compromising its
security. Tokenization, which seeks to minimize the amount of data a company needs to
keep on hand, has become a popular way for small and medium-sized businesses to bolster
the security of credit card and e-commerce transactions, while they minimize the cost and
complexity of complying with industry standards and government regulations.

3. Tokens can be created in several ways:
Using a mathematically reversible cryptographic function with a key.
As a result, the token becomes the exposed information, and the sensitive information
that the token represents is securely stored in a centralized server known as a token vault.
The token vault is the only place where original information can be mapped to its
corresponding token.
Some tokenization's do not have a vault. Instead of storing sensitive information in a
secure database, vaultless tokens are stored using an algorithm. If the token is reversible,
the original sensitive information is generally not stored in a vault.

4. How Tokenization Works?
Tokenization replaces sensitive information with equivalent non-sensitive
information. Non-sensitive replacement information is called a token.
Tokenization is often used to protect credit card data, bank account information, and
other sensitive data handled by a payment processor.
Tokenization has been around since the beginning of the first monetary systems, in
which coin tokens have long been used as a replacement for real coins and bills. Subway
chips and casino chips are examples of this as they serve as substitutes for real money.
This is physical tokenization, but the Blockchain development company concept is the
same as digital tokenization: to act as a substitute for a more valuable asset.

5. COMPANY BLOCKCHAINX
WEBSITE https://www.blockchainx.tech/
E-MAIL contact@blockchainx.tech
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