Learning Blockchain with ServiceNow and Hedera #3

Create Fungible-Tokens with the Now Platform and the Hedera DLT

Original LI post: https://lkdin.io/3nHJ

Let’s create our first token with ServiceNow and Hedera. Tokens and tokenization (the a̳r̳t̳ ̳&̳ ̳s̳c̳i̳e̳n̳c̳e̳ of creating tokens) are at this point an extensive body of knowledge in the #blockchain.

Tokens are allowing new business models by combining them as letters of an alphabet, and enterprises (are we say) are taking notice.

There are two main token categories, fungible and non-fungible, and a number of hybrid models.
‣ 𝘧𝘶𝘯𝘨𝘪𝘣𝘭𝘦 tokens have all equal units
‣ 𝘯𝘰𝘯-𝘧𝘶𝘯𝘨𝘪𝘣𝘭𝘦 tokens (or NFTs) have all unique units
‣ 𝘩𝘺𝘣𝘳𝘪𝘥 models are between the two and are also called 𝘴𝘦𝘮𝘪-𝘧𝘶𝘯𝘨𝘪𝘣𝘭𝘦

All of them are doable with ServiceNow as the business application platform and Hedera as the #layer1.

There are many properties of tokens beyond pure fungibility. For an overview, I recommend the InterWork Alliance taxonomy framework.

We will start today with the base model, a fungible token. You can think of it as a unit for enterprise accounting, loyalty points, reputation, carbon offsets or digital currencies #cbdc.

We will use the native Hedera token, a fast and effective option with the Hedera DLT.

As Hedera is fully #evm compatible, these token now integrates very well with Ethereum-like tokens.

Hedera can also support all ERC token standards (e.g., #erc20, #erc721, #erc1155), but we need to discuss that with smart contracts.

In the video, you will see the creation of a fungible token from the ServiceNow UI.

Native Hedera tokens are highly configurable.

They can be 𝐚𝐝𝐦𝐢𝐧𝐢𝐬𝐭𝐞𝐫𝐞𝐝 𝐜𝐞𝐧𝐭𝐫𝐚𝐥𝐥𝐲 or be 𝐟𝐮𝐥𝐥𝐲 𝐝𝐞𝐜𝐞𝐧𝐭𝐫𝐚𝐥𝐢𝐳𝐞𝐝.

They can be made 𝐦𝐢𝐧𝐭𝐚𝐛𝐥𝐞 and 𝐛𝐮𝐫𝐧𝐚𝐛𝐥𝐞.

They can be 𝐩𝐚𝐮𝐬𝐞𝐝 and 𝐰𝐢𝐩𝐞𝐝.

They can be made 𝐧𝐨𝐧-𝐭𝐫𝐚𝐧𝐬𝐟𝐞𝐫𝐫𝐚𝐛𝐥𝐞 with a token 𝐟𝐫𝐞𝐞𝐳𝐞. Search on Google for the so-called S̳o̳u̳l̳-̳B̳o̳u̳n̳d̳ Tokens (SBTs).

They can be subject to 𝐊𝐘𝐂.

So let’s start with some basic…