Bloomberg
Briefly

Tokenization is a process that converts sensitive data into a token, which can be used in financial transactions without exposing the actual data.
Tokenization substitutes sensitive data with a non-sensitive equivalent called a 'token'.
Tokenization can enhance security by reducing the risk of data breaches and fraud, as tokens are meaningless to unauthorized users.
Tokenization offers a significant security advantage over traditional data encryption methods.
Read at Bloomberg
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