A Method for Uncovering Tokenisation Archetypes and their Effects: Thus Spoke Switzerland

A Method for Uncovering Tokenisation Archetypes and their Effects: Thus Spoke Switzerland | Research Square window.SnipcartSettings = { analytics: { enabled: false } }; (function() { var accessVector = localStorage.getItem('access_vector') || ''; window.dataLayer = window.dataLayer || []; if (accessVector) { window.dataLayer.push({ user: { profile: { profileInfo: { snid: accessVector } } } }); } })(); (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);})(window,document,'script','dataLayer','GTM-K279D39R'); Browse Preprints In Review Journals COVID-19 Preprints AJE Video Bytes Research Tools Research Promotion AJE Professional Editing AJE Rubriq About Preprint Platform In Review Editorial Policies Our Team Advisory Board Help Center Sign In Submit a Preprint Cite Share Download PDF Research Article A Method for Uncovering Tokenisation Archetypes and their Effects: Thus Spoke Switzerland Anisa Plepi, Peter Schwendner This is a preprint; it has not been peer reviewed by a journal. https://doi.org/ 10.21203/rs.3.rs-5676822/v1 This work is licensed under a CC BY 4.0 License Status: Posted Version 1 posted You are reading this latest preprint version Abstract This paper proposes a framework for aggregating and categorising viewpoints on fundamental issues concerning tokenisation and assessing the causal effects of tokenisation on market outcomes, using bonds as a case in point. The framework starts with a taxonomy for classifying bond tokenisation use cases according to the tokenisation model, which is fed into a causal model to assess the question: If a bond had been tokenised instead of using the traditional infrastructure, how would the outcomes, characterising its lifecycle processes, change? Or, alternatively, how would the outcomes of interest change if a bond had been exchanged in the traditional infrastructure instead of being tokenised? The paper then proposes an outcomes matrix to estimate the effects of tokenisation on particular outcomes for which there are 25 metrics. The framework is then employed to conceptualise Switzerland’s tokenisation approach and evaluate present bond tokenisation effects on efficiency and liquidity. JEL Classification: C18, C21, C81, G10. Distributed Ledger Technology (DLT) Bond Tokenisation Digital Currency Taxonomy Counterfactual Reasoning Outcomes Matrix Full Text Additional Declarations No competing interests reported. Cite Share Download PDF Status: Posted Version 1 posted You are reading this latest preprint version Research Square lets you share your work early, gain feedback from the community, and start making changes to your manuscript prior to peer review in a journal. As a division of Research Square Company, we’re committed to making research communication faster, fairer, and more useful. We do this by developing innovative software and high quality services for the global research community. Our growing team is made up of researchers and industry professionals working together to solve the most critical problems facing scientific publishing. Also discoverable on Platform About Our Team In Review Editorial Policies Advisory Board Help Center Resources Author Services Accessibility API Access RSS feed Manage Cookie Preferences © Research Square 2026 | ISSN 2693-5015 (online) Privacy Policy Terms of Service Do Not Sell My Personal Information {"props":{"pageProps":{"initialData":{"identity":"rs-5676822","acceptedTermsAndConditions":true,"allowDirectSubmit":true,"archivedVersions":[],"articleType":"Research Article","associatedPublications":[],"authors":[{"id":392690953,"identity":"9b5789e4-5e81-4cfb-bbef-6d91c9273c13","order_by":0,"name":"Anisa Plepi","email":"","orcid":"","institution":"University of Tirana","correspondingAuthor":false,"prefix":"","firstName":"Anisa","middleName":"","lastName":"Plepi","suffix":""},{"id":392690954,"identity":"c73a6245-2eaf-4a6e-a9d4-39c323ae2f6e","order_by":1,"name":"Peter Schwendner","email":"data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAZAAAAAyAQMAAABI0h/eAAAABlBMVEX///8AAABVwtN+AAAACXBIWXMAAA7EAAAOxAGVKw4bAAAA+0lEQVRIiWNgGAWjYDADAxDBA8T8YJKBIQG3WmY0LZINJGsxOEBAizl7/8HHFQx18uYSyccevN1hk298/uzBzzwMdnm4tFj2HGY2PMNw2HDnjLR0w7ln0iy3HTiXLM3DkFyMS4vBjWQ2yQaGAwkGt3PMpHnbDhuYHewxkM5hOJDYgEvL/cfsPxsY6oBa8r8Btfw3MG7mMf6NV8sNZjbGBgZmkC1sQC0HDAzYeMzw2mLZk2ws2WBw2HDD/WdmknPbkg0kzvCYWf8xSMapxZz94MOPDRV18gZnDj+TeNtmZ8Dff8b45owKO9wOQyIxxfFoGQWjYBSMglGADwAAmeRT4D0Y4VkAAAAASUVORK5CYII=","orcid":"","institution":"Zurich University of Applied Sciences","correspondingAuthor":true,"prefix":"","firstName":"Peter","middleName":"","lastName":"Schwendner","suffix":""}],"badges":[],"createdAt":"2024-12-19 12:38:23","currentVersionCode":1,"declarations":"","doi":"10.21203/rs.3.rs-5676822/v1","doiUrl":"https://doi.org/10.21203/rs.3.rs-5676822/v1","draftVersion":[],"editorialEvents":[],"editorialNote":"","failedWorkflow":false,"files":[{"id":83037769,"identity":"7626e3cc-9fa2-4ffc-9b1a-66ca572780b1","added_by":"auto","created_at":"2025-05-19 10:17:02","extension":"pdf","order_by":1,"title":"","display":"","copyAsset":false,"role":"manuscript-pdf","size":732746,"visible":true,"origin":"","legend":"","description":"","filename":"AMethodforUncoveringTokenizationArchetypesandtheirEffects.pdf","url":"https://assets-eu.researchsquare.com/files/rs-5676822/v1_covered_4ad934f5-a2d4-4c82-a6c0-05029f10af37.pdf"}],"financialInterests":"No competing interests reported.","formattedTitle":"A Method for Uncovering Tokenisation Archetypes and their Effects: Thus Spoke Switzerland","fulltext":[],"fulltextSource":"","fullText":"","funders":[],"hasAdminPriorityOnWorkflow":false,"hasManuscriptDocX":false,"hasOptedInToPreprint":true,"hasPassedJournalQc":"","hasAnyPriority":false,"hideJournal":true,"highlight":"","institution":"","isAcceptedByJournal":false,"isAuthorSuppliedPdf":true,"isDeskRejected":"","isHiddenFromSearch":false,"isInQc":false,"isInWorkflow":false,"isPdf":true,"isPdfUpToDate":true,"isWithdrawnOrRetracted":false,"journal":{"display":true,"email":"[email protected]","identity":"researchsquare","isNatureJournal":false,"hasQc":true,"allowDirectSubmit":true,"externalIdentity":"","sideBox":"","snPcode":"","submissionUrl":"/submission","title":"Research Square","twitterHandle":"researchsquare","acdcEnabled":true,"dfaEnabled":false,"editorialSystem":"","reportingPortfolio":"","inReviewEnabled":false,"inReviewRevisionsEnabled":true},"keywords":"Distributed Ledger Technology (DLT), Bond Tokenisation, Digital Currency, Taxonomy, Counterfactual Reasoning, Outcomes Matrix","lastPublishedDoi":"10.21203/rs.3.rs-5676822/v1","lastPublishedDoiUrl":"https://doi.org/10.21203/rs.3.rs-5676822/v1","license":{"name":"CC BY 4.0","url":"https://creativecommons.org/licenses/by/4.0/"},"manuscriptAbstract":"\u003cp\u003eThis paper proposes a framework for aggregating and categorising viewpoints on fundamental issues concerning tokenisation and assessing the causal effects of tokenisation on market outcomes, using bonds as a case in point. 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