Utility and Security Tokens

The Openvino project introduces two types of tokens:

The MTB* vintage tokens, and the (You Drink It, You Own It) Costaflores share tokens.

The vintage tokens (i.e. MTB18, MTB19, etc.) are considered UTILITY tokens, whereas the Costaflores share tokens may be considered SECURITY tokens.

The vintage tokens are UTILITY tokens because each token represents the right to acquire one bottle of wine from the Costaflores specified vintage. These tokens, though tradable, are not intrinsically speculative in nature. The tokens represent actual, existing products (bottles of wine). To that effect, the vintage tokens are placeholders for a definitive product, much like a laundry ticket or gift voucher or concert tickets are placeholders for definitive services or products. 

The Costaflores share token, which will be introduced beginning in 2021, represent shares of the Costaflores winery. To that extent, these shares are more similar to SECURITY tokens. However, here is where the Costaflores share tokens will diverge from a traditional securities: 

a) The tokens (shares) will only be obtainable by exchanging personal information and tasting notes from Costaflores wine consumers.

b) As legal shareholders in an Argentine company, all share token identities must be qualified and documented. 

Both use cases for our utility and security tokens have been presented and discussed with the Argentine Comisión Nacional de Valores.