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TOKEN is a bliss or currency that has a defined value in a given environment, where it is used as a bargaining chip. For example, tokens have been used in the New York subway for more than 70 years, and they are perforated coins or tokens that have varied in value over time. In computing: Tokenization, if applied to data security, refers to the process of replacing a sensitive data element with one with no real value or token, without an extrinsic or exploitable value.