// definition
Tokenisation
Substitution of data with a purpose-specific token
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Short definition
Replacement of data with a surrogate token used in a defined context. An authorised actor can recover the underlying data through a mapping table, whose protection determines the confidentiality of the arrangement.
risk atlas
Knowledge map
Intuition
A token reduces direct exposure of the underlying value. It does not erase the value or the mapping needed by authorised actors.
Why it matters now
The proposed SEPI service uses tokens and cryptograms for QR codes, payment links and NFC, making key ownership, token lifetime and detokenisation rights central design questions.
Related analyses
- Digital euro, 3/6: as private as cash?SEPI, technical identifiers and the limits of data substitution.
Related guides
- Reading a CBDC parameter by parameterIssuer, ledger, access, holding limits and privacy.
Primary sources
- ECB digital euro rulebookDraft technical specifications for SEPI and payment-data exchange.