BCERT Tokens are defined as utility tokens based on the following characteristics:
1. Platform Specific Use: BCERT Tokens are intended for use specifically on the BCERTs CORE platform, which is a Blockchain-based digital business, transaction, and services cloud platform.
2. Access and Services: Ownership of BCERT Tokens grants the right to use them to operate a business on the CORE, engage in smart contract transactions, and obtain services on the BCERT CORE platform.
3. No Ownership Rights: Holding BCERT Tokens does not confer any ownership right, stake, share, security, or equivalent rights in the BCERTs CORE cloud platform, BlockCerts, or its affiliates.
4. No Financial Claims: BCERT Tokens do not represent a right to receive future revenue shares, intellectual property rights, or any other form of participation in or relating to the BCERT CORE platform.
5. Non-Refundable: The tokens are not refundable and are not intended to be a digital currency, security, commodity, or any other kind of financial instrument.
6. Blockchain Functionality: The tokens are used for streaming transactions, authenticating identities, and managing compliance and regulatory processes on the platform.
7. Smart Contract Integration: BCERT Tokens are used in conjunction with smart contracts for various purposes, including KYC and AML onboarding, transaction tracking, compliance tracking, and validation of documents and user applications for regulated transactions.
8. Escrow and Payment Mechanism: The BCERT Payments Utility Token, built on the foundation of BCERTS Tokens, can facilitate fiat currency requirements for projects, with transactions managed through the BlockCerts Central Smart Registry Ledger and modeled for escrow via BCERT smart contracts.
These characteristics collectively define BCERT Tokens as utility tokens, emphasizing their use as a means to access and utilize the services and functionalities of the BCERTs CORE platform rather than as an investment or financial instrument.
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