AZZET TOKEN (Decentralized Proof of Ownership of Assets) #tokenIdea

Name of Project

Azzet Token

Ticker for Token

AZZT

1) In one sentences or less, describe your token. This isn’t the time to get wordy, just to the point!

Decentralized Proof of Ownership of Assets

2) Do you have a video to introduce yourself or explain the token? Upload it here and share the link here. (Not required)

None

3) Do you have a logo for your token? If so, upload it here. (Not required)

No Idea Yet

4) How does your token work? Be as detailed as possible

Azzet Token is decentralized proof ownership for Assets; Representation of Real Assets

There are different types of assets:

  1. Current Assets are assets that can be easily converted into cash and cash equivalents (or in this case cryptocurrency). Current assets are also termed liquid assets and examples of such are:

Cash (FIAT)

Cash equivalents (Cryptocurrency)

Short-term deposits (Backed by Banks or crypto-banks)

Accounts receivables (Receivables from another person, receivables can be in the form or crypto)- this token can also allow person to person direct loans/iou, borrowing of crypto direct person to person with defined payment terms. Any person can dictate their own loan rate etc.

Inventory/Supply (Can be in NFT format, where Asset Token Owner serves as a contract for to supply a particular item – Food, Oil, commodities)

Marketable securities (Stock securities, Crypto converted stocks)

  1. Fixed - Termed as fixed assets, long-term assets, or hard assets: are assets that cannot be easily and readily converted into cash and cash equivalents but with the “Asset Token”, fixed assets can now easily be converted to crypto and change ownership in a flash.

Examples which can be in the form of NFT:

Land

Building

Machinery

Equipment

Patents

Trademarks

5) What problem is your token aiming to solve? How will this positively impact the crypto industry?

The problem of Inheritance, Accounting, Over - Taxation, Payment collection and long process of asset transfers

6) What was the inspiration of this token? How did you think of it?

The tedious process of real life assets

7) Are there any projects out there doing something similar?

None

8) What phase is the token in? Explore vs. Build vs. Launch vs. Scale. (If there has been no coding yet, your token is in the explore phase)

No coding yet. Idea only at this point.

9) Will this token be inflationary, deflationary, fixed, or dynamic token supply?

Inflationary to cover the minting of new assets to crypto. (real assets to crypto assets)

10) How long do you think it would take to build a minimal viable token?

6 months to 1 year

11) What skills do you have that would help bring this token to reality? (ex: Marketing, Development, Branding, etc)

Knowledge in Accounting

12) Are there any inherent weaknesses or obstacles to building this token? Any items you still need to figure out?

Weakness, would be acceptance/adoption… NFT craze would definite be a boost to this concept.

If you want to share your Twitter/Telegram handle here for people to reach out and discuss this idea with you, post them below.

Popoy MB - Telegram

This is where you can put anything you want that was not directly asked above! Anything and everything related to your token idea can go here. Any files, links, info, etc

none at this point. :slight_smile: