ITEM Standard: A proposed method to identify tokenized business inventories and services, on the blockchain.

A proposed method to identify tokenized business inventories and services on the blockchain:

  1. The “tokenID” of any business inventory or quantified service would be “ITEM”.
  2. The “name” field would be the most generic and universal name of the item or service.
  3. The “description” field would represent detail such as brand or SKU of the item or service
  4. The “What” field would include metadata indicating industry specific information such as SKU, unit of measure, link to the business page, etc.
  5. The “Where” field would include metadata indicating city, state, country, zip
  6. The ‘What Price” field would include the currency sign and the price in that currency.

The blockchain-agnostic ITEM standard seeks to achieve information about What is available, Where, at What Price in order to build Information Currency. The goal of these standards is first to create a discoverable marketplace.

Further, the Item Banc team has been working since 2018 to create relative value information to markets. This information at base is intended to be a safety net as inflated currencies fail to deliver fair value to markets. Our first dApp focused on the relative value of fourteen basic human need items in 110 countries. Human validator teams in these countries entered information in the database. The Item Banc Engine algorithms compared these baskets of goods by country in order to create valuation to currency. The business model rewards human validators with tokens, which can be redeemed in turn for information from the Engine.

If you would like to participate in the project or have a voice related to the proposed standard, please comment, or write

To read more about Information Currency, check out my book, The Language of Value, published in 2022.

Posted in IBPosts.

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