Plug and Play Tech Center’s Post

Name: The Success Story of Togg & Akbank
Uploaded: 2024-07-11T16:16:01.042Z
Channel: Plug and Play Tech Center

Plug and Play Tech Center

143,758 followers

3mo

🚀 We're thrilled to share an inspiring collaboration in the Plug and Play ecosystem! 🚀 In our latest case study, discover how Togg, a leader in smart electric vehicles, and Akbank, one of Turkey's largest banks, joined forces to tackle asset tokenization using blockchain technology. 🔗💡 By leveraging tokenization technology, Togg and Akbank conducted a successful collaboration where digital assets representing ownership of Togg smart devices are created, stored and shared by smart contracts. In a future where digitizing real-world assets will be inevitable, it is expected to pave the way for many financial services. This groundbreaking partnership is shaping the future of asset tokenization and driving innovation forward. Watch the video to see how Togg and Akbank are pioneering a new era in the tech landscape. ✨ #Blockchain #SmartVehicles #Fintech #AssetTokenization #DigitalTransformation Know more about our programs in Istanbul here: https://pnptc.in/4cNSSiY Irem Sadikoglu - CFO at Togg Burcu Civelek Yuce - Consumer Banking and Digital Solutions EVP Ahmet Duran - Head of Trumore - Digital Experience Platform at Togg Burcu Kucukunal - Digital Design and Innovation SVP at Akbank Selim Yuksel - SVP, Analytics at Akbank Osman Emre Geredeli - Innovation Center Manager at Akbank Çağatay Zor -Trumore Product Leader at Togg Merve Akgün Sarı - Innovation Manager at Akbank LAB Lale Can Gözübüyük - Regional Director/Country Manager Türkiye at Plug and Play

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Code is on a mission to deliver user centric and innovative services around its smart devices while doing partnerships and agile collaborations with startups as Vital Talk aims to create a seamless end to end user experience beyond traditional mobility. At Bank is one of the largest bank in Turkey because we stand out. Of innovation, we launch Akbank LAP in 2016. LAP is the Innovation Center of Akbank to coordinate innovative activities within the bank. So we are carrying out innovative projects that guide our bank to the future with cutting edge technologies. Our primary goal is to ensure that Akbank is the first bank to be considered as the partner among innovative companies. The challenge we face around the concept of real world asset tokenization is how to make digitized asset a trustable financial tool. To address each challenge, we force a collaboration with Akbank, ensuring the security and integrity of the digital assets through their expertise in financial services and provide users with Peace of Mind regarding the safety of their assets. As Akbank, we have more than 10 different verticals for financial use cases in blockchain in our partnership with Talk. Is on a selected few, tokenization was prioritized. At its most basic level, tokenization is the process of bringing real world assets on chain. Tokenization of real world assets in most presenting the ownership rights of assets. So in this process, a digital representation of the underlying asset is created, enabling on chain management of the ownership rights to bridge the gap between physical and digital assets. We run a POC to make tough users able to tokenize their smart devices on blockchain. In our case, we used our Lync chain and securely saved and shared these lawsuits. In the first phase, possible car sharing users are selected as target group and a closed loop test environment is created on blockchain for the test scenario. First NFT which represents Doximity device with minted on our lunch blockchain. For car sharing scenario, a comment is given to smart contract to create friction and FTS for building trust and safety. The NFT is sent to Akbank as a guarantor for custody. Fractions of NFTS representing smart device are distributed through digital world of users successfully. The whole process is ruled by smart contracts and at the end real world asset tokenization became possible. Thanks to this work, visual assets representing ownership of talks much devices are created, stored and shared using optimization technology developed by code. It is aimed to represent toxic Mac devices as a digital value in the future. Our most significant key learning to this collaboration was the technological possibility of real world organization, particularly in scenarios involving smart devices showcasing limitless possibilities for utilization. The use of smart contracts can help to automate the process of buying, selling and transferring tokens, reducing the need for manual intervention. This leads to more efficient, faster and more secure transactions as well as reduce transaction fees. Our collaboration proved that talk, ownership and usage. Can be managed by digital assets. This leads us to a bigger picture for the future of finance and because of non financial assets in real time. In the long term, it's expected to pay the way for many financial services such as safe payment methods in car sales, building as you go pricing models and easy access to instant auto loans. In a future where digitizing real world assets will be inevitable, the cooperation of Outback and told help us to lay the foundation of tokenization era. Knowing that our partner is part of the plug and play ecosystem instill trust and confidence between us. Our shared approach to innovation generated a positive bias among companies and significantly facilitated our collaboration.

Maria-Francesca Steyn, MBA, MSCE

Program Management I Business Development I Strategic Marketing

3mo

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Plug and Play Tech Center’s Post

The Success Story of Togg & Akbank

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