Blockchain enabled Tokenization opens up new ways to deal with “time” – arguable our most precious commodity. Time Tokenization starts with a timestamp as a mark of the moment, in which a given event occurred, ensuring that certain data existed at that time (PoE or “Proof of Existence”). Timestamps are fundamental in blockchains’ designs, making it impossible to repeat a block in the future and prevent double-spending.
Timestamps have many uses – Timestamps enable the identification of when data was edited, allowing the identification of data breaches and alterations. Timestamp tokens stored in a tamper-proof ledger without the need to rely on a centralised timestamping authority can also allow spotting alterations in news articles, which can aid in the fight against fake news even in contexts of low trust. This is done through tracking versioning because, as the unique hash changes when content is changed, a reader can see when, how and by whom a document version was changed. For instance, LKS claimed to launch one such solution.
This has implications for copyright disputes, as the original work can be found in the blockchain and even for search engine optimisation (SEO) since “timestamping is considered structured data, which helps search engines rank a website.”