“Tokenization” means turning ownership of a real thing – gold, a bond, a building, a share in a fund – into a digital token that can be held and traded electronically. This market is expected to grow to trillions of dollars in value. Every one of those tokens is a promise written in computer code – and today, almost none of that code can be proven to keep its promise. F1R3FLY and TCS are changing that.
As a specialist technology partner in TCS's partner network (its “Alliances and Partnerships ecosystem”), F1R3FLY and TCS are bringing provably correct tokenization to financial institutions worldwide. F1R3FLY supplies the engine: the “smart contracts” – the programs that hold and move the tokens – are mathematically checked before use, the system processes many transactions at the same time, and every action is permanently recorded. TCS brings global scale, deep experience in banking, and the delivery teams to take a project from a small pilot to full production across an enterprise.
When a token stands for gold, a bond, a property or a fund unit, a flaw in the software contract is a flaw in the asset itself. Programming mistakes in token contracts have cost the industry billions and made institutions wary. F1R3FLY's checking tool, OSLF, examines each contract mathematically before it goes live: the rules for issuing tokens, the restrictions on transferring them, the process for cashing them in, and the regulatory requirements are all proven to work – not just tested and hoped for. The result is an asset that regulators, auditors and trading partners can trust, because its behaviour can be demonstrated in advance.
This is not a plan on paper. Boring Financial's gold-backed token is live in the market on F1R3FLY today: the full life of the asset – creating tokens, transferring them, cashing them in – runs on mathematically checked contracts, in front of real customers.
Read the case study (PDF) →Whether you are an institution exploring real-world asset tokenization or a market-infrastructure provider looking at next-generation settlement, we would like to talk.
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