Tokenisation

Tokenisation is replacing a sensitive or valuable item with a stand-in code, called a token, that represents it without exposing the real thing. On a blockchain, an asset such as a property share can be represented by a token that can be held and transferred digitally.

It is like a cloakroom ticket: the ticket stands in for your coat, can be passed to someone else and only the cloakroom links it back to the real item. Tokenisation matters because it lets things be traded, tracked or protected as simple digital units, while the underlying value or sensitive detail stays controlled.