Tokenization of Ethereum and Calling it iEthereum

iEthereum is pretty genius if you ask me. In many regards, iEthereum is no different than many other ERC20 tokens. However, I believe there is one small difference that makes it stand out. At its “core,” there lies genius-ness that supersedes technology and incorporates business sense.

Most developers or institutions looking to develop on the Ethereum blockchain look at the code and network and imagine what could be possible to be built on top of the Ethereum network. They spend a lot of time, energy and resources building out specific use cases and complex code.

I can do this, we can do that. Why don’t we build this utility? What if we applied this function to the code?

All great ideas, I am sure. But who just paused one second and said, “What if we were to take the new and successful digital commodity known as Ethereum, tokenize it, and place it on the Ethereum network as a stand alone. Let’s not do anything to it. Lets call it the HumandStandardToken. Lets create iEthereum.”

“We can’t be everything. Why do we even try. Let us be a solid well audited, trusted, safe, secure, immutable, opensource P2P cryptocurrency that allows others to build upon via our own token factory. Just like Ethereum but a better more efficient foundation. If we can not be everything, why not create a token called iEthereum that can be everything for everyone else’s needs or wants. We provide the platform for other developers and institutions to spend their own capital and resources to build what they want. This will allow the industry and markets to mature on someone else’s dollars and dimes.”

I used to work at a vineyard and winery. The owner once told me “that if you count your nickels and dimes; the dollars will be there when you need them.”

This article explores the myriad of benefits of tokenizing Ethereum itself and placing these Human Standard Tokens on the Ethereum blockchain while shedding light on the potential positive impact on the world. In addition, we also speculate by highlighting the value added benefit if Apple were the geniuses behind this concept in creating iEthereum.

Tokenization, the process of converting real-world assets into digital tokens on a blockchain, has gained significant traction in recent years. Ethereum, a pioneering blockchain platform, has been at the forefront of this revolution.

So lets consider the genius if we were to look at Ethereum as a stand alone asset and then be the first to tokenize this asset; ie Ethereum, on the Ethereum blockchain itself and call it iEthereum.

I. Increased Liquidity and Accessibility

Tokenizing Ethereum would enhance liquidity by dividing the ownership of the cryptocurrency into smaller, more tradable units. This fractional ownership facilitates broader participation, enabling individuals with limited resources to invest in Ethereum. The increased accessibility fosters financial inclusion, empowering people who may have been excluded from traditional investment opportunities.

Furthermore, tokenized Ethereum can be easily traded on decentralized exchanges (DEXs), reducing reliance on centralized platforms. This decentralized approach aligns with the ethos of blockchain technology, promoting a more democratic and open financial ecosystem.

II. Enhanced Security and Transparency

By tokenizing Ethereum on its native blockchain, the security and transparency inherent to the Ethereum network are leveraged. Smart contracts, self-executing contracts with the terms of the agreement directly written into code, can be utilized to govern tokenized Ethereum transactions. This automation reduces the risk of fraud and ensures the integrity of transactions.

Moreover, Ethereum's transparent and immutable ledger provides a comprehensive and auditable record of all token transactions. This transparency builds trust among participants, mitigating the potential for fraudulent activities and fostering a more secure financial environment.

III. Streamlined Cross-Border Transactions

Tokenizing Ethereum on the Ethereum blockchain could streamline cross-border transactions, eliminating many of the challenges associated with traditional banking systems. The decentralized nature of blockchain technology removes the need for intermediaries, reducing transaction costs and processing times.

Additionally, smart contracts can be programmed to automatically execute cross-border transactions when predefined conditions are met, further simplifying the process. This efficiency benefits individuals and businesses engaged in international trade, promoting economic growth and global cooperation.

IV. Democratization of Finance and Governance

Tokenizing Ethereum has the potential to democratize finance and governance by allowing token holders to participate in decision-making processes. Through the implementation of decentralized autonomous organizations (DAOs), token holders can vote on proposals, influencing the future development and direction of the Ethereum ecosystem.

This democratization of governance empowers the community and fosters a sense of ownership among token holders. It aligns with the decentralized ethos of blockchain technology, where decisions are made collectively rather than being concentrated in the hands of a few.

Tokenizing Ethereum and placing it on the Ethereum blockchain presents a multitude of benefits that could positively impact the world. From increased liquidity and accessibility to enhanced security, transparency, and streamlined cross-border transactions, the potential advantages are vast. Moreover, the democratization of finance and governance brings a new level of inclusivity and community involvement. As blockchain technology continues to evolve, the tokenization of Ethereum stands as a beacon for the transformative potential of decentralized systems in shaping the future of finance and beyond.

To be fair, many of these benefits represent ERC20 tokens as a whole and not just iEthereum. But they do apply to iEthereum. I would like to point out that the genius of iEthereum lies in the simplicity of not trying to be everything or anything in specific.

This is especially true if iEthereum were created by Apple. Lets theorize for a moment what Apple would want in a token. I would presume they would want a secure foundation for a P2P payment mechanism to implement into their Apple Pay ecosystem and I would presume they would want a token to create apps, ie a token factory. It is my opinion, these would be the two largest use cases to benefits Apple customers.

There are many other use cases that I could pinpoint and I may have even suggested in previous articles or will highlight in future articles. This subject begins to touch on the various other iEthereums that have been created; ie iEthereum red and iEthereum Finance.

Lets stick with the original iEthereum today and examine this Apple tokenization of Ethereum theory: