Open Assets

Open Assets allows issuance and transfer of user-created assets. The Open Assets Protocol is an evolution of the concept of Colored Coins - GitHub

Open assets protocol used for storing and transferring custom, non-native assets on the B Blockchain. Assets are represented by tokens called colored coins.

An issuer would first issue colored coins and associate them with a formal or informal promise that he will redeem the coins according to terms he has defined. Colored coins can then be transferred using transactions that preserve the quantity of every asset - Open Assets wiki on GitHub