In the token debate currently in Bitcoin Cash opponents to the GROUP proposal argue that there is no such thing as permissionless transfer of redeemable tokens.
They argue that while GROUP allows permissionless transfers of tokens it ultimately doesn't matter since the issuer can invalidate the coins anyway.
Then the obvious question we need to ask, which a sceptic always should ask whenever one hears blockchain in relation to projects, is what are the benefits for a token to operate on Bitcoin Cash as opposed on a SQL database?
The same binary argument that dismisses GROUP's ability to do permissionless transfers can be used to dismiss other potential benefits non-protocol-layer token schemes have in using a blockchain.
Therefore the argument shouldn't be GROUP or Tokeda (or other non-protocol-layers). It should be should tokens on Bitcoin Cash exist at all?
 

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The tokeda whitepaper does answer this question of what added value can the blockchain provide to permissioned tokens. Even if I am not sure if the arguments are very convincing, at least give it a look.
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The logic to dismiss the value of GROUP goes like this: because redemption requires permission then it doesn't matter if we can do permission less transfers.
The value of Tokeda is public and verifiable data on the blockchain.
However you cannot store the issuer's intent to accept a token, they can allow all transfers but not redeem. Therefore we can argue with the same binary thinking: because not all data is available on the blockchain then it doesn't matter if we have some data.
My point is only that this binary thinking is fruitless and shouldn't be used to dismiss value too easily.
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Tokeda allows for multiple parties to issue and redeem the same token, and verify that the other organizations are doing so while following agreed upon rules. If a party violate those rules the error can be corrected, or the party in violation can be sued. This is a good reason to still have on-chain transfers of tokens Also, Tokeda allows for SPV compatible tokens, as well as fast transfers via an open-standard. Right now, transferring a stock (for example) is not easy due to the proprietary tracking systems. Bitcoin Cash offers a standard protocol for doing this.
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