The current guid function is nice it generates and returns a guid.
Nicer will be the ability to pass a string argument and function returns a formatted guid.
For example, we pass:
Function returns one of the following based on user requirement:
C# already have a similar functionality.
There can be many, I was reading SharePoint folder guid and using that to update Model Driven App entity with same id.
Please vote for this and add any further details.