 The choice of tokenization as an alternative to other techniques such as encryption will depend on varying regulatory requirements, interpretation, and acceptance by respective auditing or assessment entities.This is in addition to any technical, architectural or operational constraint that tokenization imposes in practical use.The concept of tokenization, as adopted by the industry today, has existed since the first currency systems emerged centuries ago as a means to reduce risk in handling high value financial instruments by replacing them with surrogate equivalents.