Unique tokens allow token holders to create unique assets. Like ERC721 tokens, unique tokens are guaranteed to be unique and only one will exist. Unique tokens can change ownership by sending the unique token to another user’s address.
Some examples of unique tokens:
- Imagine an art dealer issues the asset named ART. The dealer can then make unique ART assets by attaching a name or a serialized number to each piece of art. These unique tokens can be transferred to the new owner along with the artwork as a proof of authenticity. The tokens ART:MonaLisa and ART:VenusDeMilo are not fungible and represent distinct pieces of art.
- A software developer can issue the asset with the name of their software ABCGAME, and then assign each ABCGAME token a unique id or license key. The game tokens could be transferred as the license transfers. Each token ABCGAME:398222 and ABCGAME:423655 are unique tokens.
- In game assets. A game ZYX_GAME could create unique limited edition in-game assets that are owned and used by the game player. Example: ZYX_GAME:SwordOfTruth005 and ZYX_GAME:HammerOfThor These in game assets could then be kept, traded with other players via QR codes and wallets or uploaded into an upgrade or different version of a game.
- 1776 based unique assets can be tied to real world assets. Create an asset named GOLDVAULT. Each gold coin or gold bar in a vault can be serialized and audited.
Associated unique assets GOLDVAULT:444322 and GOLDVAULT:555994 can be created to represent the specific assets in the physical gold vault. The public nature of the chain allows for full transparency.
Example: The holder of the token CAR could issue a unique token for each car by including the VIN number.
Example: CAR:19UYA31581L000000 Some use cases for unique assets include:
- Software licensing ● Car registration ● Proof of authenticity tokens to transfer along with items that could be counterfeited ● A token that allows communication on a channel (see Messaging)
A common problem with tokens/assets is that the token issuer cannot communicate with the token holders. This must be handled very carefully because the token holders do not always wish to be identified. The communication should allow the token holder to opt-out at any time. The message system should only allow select parties to use the message channel so that it is not a spam conduit. The messaging system uses unique tokens to allow communication on the main token channel. For example, the COMPANY token would have a ~COMPANY:Alert token which allows alerts to be sent to all holders of COMPANY.
Newsletters, game developers, non-profits, activist organizations, corporations and other entities will be able to issue tokens for specific users and then message those users but unlike email or other messaging services, the messaging itself will be enabled only for token holders, thereby making the token transferable.
Messaging to token holders by authorized senders will be layered on top of the unique assets. The unique assets will act as a “talking stick” allowing messages to be sent by the channel owner. The KAAAWWW Protocol will be published with more information on this separately.
One of the problems, among many, with the existing US financial system is that all the shares are held in street name. In this age of fast communication, this makes holding a vote ridiculously difficult. A public company that issues shares on Nasdaq, as an example, will have to pay a quasimonopoly company just to get the mailing addresses of their own shareholders at a given point in time. Then, a physical (dead tree) mailing must be sent out to shareholders with information on how to vote along with a proxy voting form.
By using the messaging system, the holders of a token can be notified of the vote, and by automatically issuing a VOTE token to every holder of a token, the vote can be automated from the client or through a web or mobile interface using the protocol built into Patriot Party Coin.
Tokens are created to represent votes. Patriot Party Coin will create an exact number of VOTE tokens and distribute them 1:1 to the token holders. These votes can be sent via the protocol to addresses that tally the votes. Because the voting tokens move the same way as assets, a delegation of votes – sometimes known as delegative or liquid democracy – is possible.