What is Token?
Token is a tradable digital asset and proof of equity. Various current rights and asset certificates (equity, bonds, points, notes, etc.) in the world can be expressed in the form of Token. Token is the best application of blockchain, and blockchain is the best platform for the Token application.
The three attributes of the future Token
Token can integrate equity, property rights and intermediary attribute. Token’s distribution and circulation will provide endogenous motivation for organizational development.
1. Equity attribute: value-added, long-term income can be expected, and the appreciation space is large.
2. Property rights: representative use rights, deliverable product or service.
3. Intermediary attribute: Circulating, at least in the ecosystem is recognized currency.
The advantages of Token Economy
In the past, the essence of the Internet was to reduce the cost of information search and interaction to near zero. On this basis, it has spawned a lot of new models that are extremely scalable, extremely profitable, and highly monopolistic, which traditional economic people cannot understand.
The advantages and objectives of the Token Economy are:
1. Reduce the barriers of value exchange and costs between the global economic man and machine to almost zero.
2. In the future, the Token economy will not only subvert the middlemen in the future. It subverts the joint-stock company, which has been in existence for 500 years. It will optimize the resource allocation of the society, regulate the production relationship, and promote the development of productivity.
Token Economy model of blockchain
The complete process of a blockchain project includes:
1. Value proposal
2. Value communication
3. Value realization
4. Value circulation
5. Social consensus
Correspondingly, the six stages of the Token Economy model are:
1. Trust mechanism tools (consensus)
2. Value record and incentive ledger
3. General certificate (internal)
4. Pass certificate
5. Settlement currency
6. Digital currency
For blockchain organization and ecology, Token is not only a tool or trading medium for economic incentives, but more importantly, Token can promote the self-formation, self-development, self-operation and self-improvement of the blockchain organizational structure ecosystem. It can be seen as the blood of the blockchain.
How to give blockchain organization motivation from the incentive system is a major proposition.
The existing blockchain ecology provides such an incentive model-Token. As an organization’s value-allocation element, Token will play a role in guiding employees to work creatively, collaborating to overcome technical difficulties, and quickly analyzing market changes.
Establish Token as the basic incentive unit and the Token incentive mechanism oriented to management results and market performance. It is of great significance to enterprises in the advanced information age.
Therefore, the rational design of a well-functioning Token incentive system will be the key to the successful transformation of the organizational structure and management model.
Problems that Token Economy solved
1. To verify the development logic of a project, to investigate and select quality projects.
As far as the current market is concerned, many Tokens that you see are very urgent to go online trading platforms or exchanges. When they complete the process of going online, we compare the Token Economy model, they actually go directly to the fourth step, the pass certificate.
This is actually considering the first three stages of the Token Economy. Where is the trust mechanism tool? Are the value incentives and incentives ledger and calculations done well? Is the general certificate worth to realize? This is equivalent to the foundation problem in the house building.
2. What is the belief in the blockchain industry?
Many people question the belief in the blockchain industry. Some say that 90% of people believe it can make money in blockchain world. Is this wrong? Of course not.
First of all, we must know that the consensus here is very important, but this is the most primitive consensus.
In this economy model, consensus can form value in the process of value transfer. But also it has layers and the corresponding values are different.
For example, in the earliest Ethereum consensus, there was no ICO, but there was a place called donor community. They made a donation with the most original identity. They did not expect a return. This is the belief in the blockchain we talked about.
There are different levels of belief, as do the value records and incentives at different levels of belief.
So when we look back at the entire economy model, we have to look at the shortcomings of the project and then continue to improve. In the end, it is possible to perfectly implement the pass certificate and increase the value hundreds of times.
In a sense, I personally think this is an understanding of the entire Token Economy model.
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