2gether’s first tokenization project is 2GT; it is token. The Spanish exchange suffered a serious hack in 2020 and is still struggling with the anger coming from some of its clients.
Spain-based cryptocurrency exchange 2gether announced the release of a new development platform that will focus on “tokenizing ideas or projects”. The platform will be called Token Makers. With this project, the company intends to add to its portfolio of services the creation of tokens for individuals, organizations, and companies, in addition to the sale of cryptocurrencies, and Bitcoin is among them.
As a vital part of the launch of its new platform, 2gether also released its native token, called 2GT, which they consider their first tokenization project. 2GT is available to more than 100,000 users on its platform in at least 22 countries and exceeds 60 million euros in transactions per month.
Also, the Spanish company has created a second tokenization project called Foodcoin, which will see the light of the public within the next few weeks on Calle Ponzano in the very heart of Madrid. This Token Makers project offers a service that mainly focuses on the hospitality sector, which permits each hotelier to create their own token with which they can reward their customers through a 2gether app.
Five (5) More Tokenized Projects on the Way
The company reported that it is currently creating another five tokenized economies projects with five different promoters. Although the release date remains unknown, the launch could hit the market within the next few months.
Ramón Ferraz, CEO of 2gether, assures that a new industry with more accessible services and features is possible in new ways of value exchange between people and organizations, in a more intelligent, efficient, and collaborative way.
Tokens are a means of representing things in the real world, to which users assign a certain value. This financial behavior allows building value exchange relationships from tokens, facilitating the incentive of actions and participation of the users.
The reception of ideas for the creation of new tokens from their clients happens through a form users can issue on 2gether’st official page. The Spanish company has not specified whether its clients will be able to take control of the supplies of their tokens, as well as the cost of fees and other common features.
Hacking 2gether Affected the Exchange’s Relationships with Customers
In August 2020, 2gether faced a criminal attack; exposing the private data of its clients and making the exchange lose more than one million euros in cryptocurrencies after the theft.
In a communication sent to users who would participate in the lawsuit and other interested parties, the law firm highlighted that the company cannot socialize losses for which they are not responsible and even less that they allege lack of solvency due to being a ‘startup.
The firm stressed that 2gether is a limited liability company with more than 800,000 euros of share capital and that they will have to assure, as far as possible, the full restitution of funds as soon as possible.
By: Jenson Nuñez
