Everyone Gets To Partcipate In the Token Economy

What’s amazing about the Blockchain is that it’s recreating money.

It’s not just helping transition money from the physical to the digital world. It’s turning money into tokens.

Tokens are a superior form of money.

Tokens are programmable, divisible, and shareable.

You can use a token to request support for something you want to do, and if that something is perceived as worthwhile, you’ll get support from people who

  • Want to go all-in on what you’re creating
  • Don’t understand (or specificially care about) what you’re creating but want to bet on you
  • See the crowd is “voting up” what you’re creating and follow along
  • Contribute for purely speculative or uninformed reasons

What’s remarkable is that for the first time anyone can request support through a token for something they want to create and theoretically anyone can participate. I’m not talking about all the scamming that’s going on with ICOs, I’m talking about something more basic.

Yes, we had crowdfunding and kickstarting before the Blockchain and its tokens came on the scene, but this is next level because of the way the Blockchain is engineered and a token is designed with code, math, and some unique intention.

Tokens are the easiest and coolest way to exchange value among all 7.4 billion people on the planet. So eveyone can, and eventually will, participate in the token economy.

The token economy will create more value for all of us, and more quickly, than anything we’ve seen up to this point.

Blockchain Will Be Adopted Because It Converts Uncertainty Into Certainty

What’s essential about the Blockchain?

What does it have going for it that makes it much more likely to succeed than fail?

What principles are it based on?

Bettina Warburg gives us a taste of these essential elements in her great TED Talk on “How the blockchain will radically transform the economy“.

If you can’t watch her short talk below (about 15 minutes), here’s the main idea:

There is a new technological institution that will fundamentally change how we exchange value, and it’s called the blockchain.

As a political scientist and blockchain researcher, Bettina is thinking about, and illuminating, the purpose of an institution, which, as she explains, is a tool to lower uncertainty.

And she believes (as do I) the Blockchain will eventually replace many of our current institutions because it converts a lot of our uncertainties into certainties.

So, in time, it will become the preferred institution for all of us to exchange value.