Tokenworks Inc. was formed in 1998 as a Delaware corporation. The Company’s shares are privately held.
The founders of Tokenworks came from the Smart Card Industry starting in 1992 and have participated in a number of industry events and associations such as the Smart Card Forum, Smart Card Industry Association, Smart Card Alliance, CardTech/SecureTech and National Association of Campus Card Users. In 1998, we started TokenWorks and began developing hardware for the smart card business. Along the way, we started developing technology to read magnetic cards and created solutions that extracted and processed the data strip on drivers licenses.
In all of our efforts, the following principles are paramount:
- Design in durability, quality, and value.
- Deliver value to our customers and shareholders.
- Do it once. Do it right.
- Keep it simple.
The name Tokenworks derives from our experiences in token based systems. Token based systems use a smart card, magnetic card, bar code or contactless card to authenticate an individual for payment or access to a product/service. The systems have much in common, but differ in the card technology. Therefore the term token is pertinent to all systems. The term works conveys an image of a foundry or factory where products are brought to life. Therefore Tokenworks attempts to convey that we are involved in the creation of Token based systems.
To·ken – (tkn)
- Something serving as an indication, proof, or expression of something else.
- A distinguishing feature or characteristic.
- Something that signifies or evidences authority, validity, or identity: The scepter is a token of regal status.
- A piece of stamped metal used as a substitute for currency: subway tokens.
Works – (wûrks)
- (used with a sing. or pl. verb) A factory, plant, or similar building or complex of buildings where a specific type of business or industry is carried on. Often used in combination: a steelworks.
- Internal mechanism: the works of a watch.
The output of a writer, artist, or musician considered or collected as a whole: the works of Shakespeare.
- Engineering structures, such as bridges or dams.