Marketplace participants need a mechanism for the barter and exchange of data and data rights. The EQITII Token, in conjunction with our blockchain network, makes that exchange possible.
An Ethereum compatible token compliant with the ERC20 standard, EQITII Tokens can only be used on the EQITII Marketplace. Using EQITII Tokens, buyers will be able to make international purchases without worrying about exchange rates or transaction fees.
EQITII Tokens are minted, not mined. Minting removes the “work” value of digital currency. As a result, the value of EQITII Tokens are determined by the service they provide and the commodity they represent on the blockchain. Minting a fixed number of tokens with an infinite amount of data differs from the methodologies that drive many other digital currencies today.
Thanks to minting, EQITII Tokens can truly represent the value of data being brought to market.
At the Initial Coin Offering (ICO), there will be 10 billion EQITII Tokens minted and staged for market entry. EQITII Token has been officially recognized by the Central Bank of Uruguay, making it the first and only digital currency in the world endorsed by a country’s central bank.