iYen ℠
What is a Token
While “token” is used to describe proprietary tokens hosted on third-party blockchains.
Vanilla cryptocurrency tokens also come in different flavors, such as privacy coins and stable coins. Privacy coins provide enhanced privacy and anonymity, while stablecoins are tied to the value of another (typically fiat) currency.
Cryptocurrency tokens are usually “mined” by processing blockchain transactions. Each blockchain has a different mining method, including Proof-of-Work, Proof-of-Stake, Proof-of-Skill, and hybrids of each model.
Cryptocurrency tokens are stored in wallets and can be exchanged using private/public key combinations. Many cryptocurrency transactions are exchanged directly, but cryptocurrency exchanges like Binance exist to make converting tokens between each other and cashing out easier. The benefits of cryptocurrency tokens are immutability, verification, speed, and low cost of transactions versus fiat currencies. Cryptocurrency tokens are the future of finance as a form of payment.
What is iYen
iYen ℠ is IntelliBlock's token which is used to facilitate transactions in one of our Asian based ecosystems like the BioBank where patients who share anonymized health records are compensated with iYen which, after a set period, can be exchanged for Yen or other Asian based fiat currency.
BioBanks allows medical and pharmaceutical organizations to track consenting patients anonymously over a specified desired length of time. In healthcare, more data usually amounts to fewer mistakes. Moreover, companies can also use BioBank data to evaluate which treatments are most effective in improving a patient's medical condition
News
We are working with many data providers collecting user information in exchange for value represented by our ecosystem tokens