Wednesday, 21 November 2018

Tokens are Eating the World

ICOs won’t Die for One Simple Reason


The trinity of airdrops, bounty programs and ICOs are likely the most efficient way for blockchain startups (and tech startups in general) to raise capital. Not only that, as a recent TechCrunch story points out, tokens also make better incentives for startup equity.

If an airdrop incentivizes word of mouth to go viral for a particular crypto project or blockchain solution, an ICO is a powerful motivator to scale interest, attention, support and capital to a project.

Forget software and apps, crypto and tokens are eating the world. With Bakkt launching in November 2018 and with Etheruem Futures coming, we basically are nearly assured Bitcoin ETFs will be approved by the SEC in the coming months. How do you suppose these events might impact the price of Bitcoin and the market cap of crypto? It could be positive, very positive.

In 2018, the widespread adoption of the token economy hasn’t even started yet. Already there’s a race to become the next scalable dApp platform and leading public blockchain. What if the Ethereums and NEOs of today were replaced by more mature “internet computers” and blockchain paradigms that could scale crypto and tokens even better to mass adoption?

IBM’s investment in blockchain is bearing fruit. Alibaba has an enormous amount of blockchain patents. We know blockchain adoption is rapidly maturing in the enterprise, banking and FinTech space. Blockchain is being adopted by many of the biggest companies in the world today.

Software, the Cloud and apps are still amazing platforms for the scale of technology to take place. Artificial intelligence is maturing and shaping a new cosmos of business and consumer fulfillment across industries. The token economy could be a radical new layer of transactions and trust on top of these new connections.

Cryptoeconomics and token-economics could enable new forms of governance that radically decentralize how we consider business hierarchies, decision making and organizations — forcing them to be more accountable to the ‘common good’. The consumer trust in companies such as Facebook, Google, Amazon, Microsoft and others is under threat in 2018, that’s an understatement.


The Crisis of Trust in Tech is Brewing and Getting More Serious

Never before has what blockchain, decentralization and tokens mean been more needed in the real world. Facebook’s reputation has been demolished, leading to Millennials spending less time on its empire of apps.

Google and Amazon are both putting profits over people, thereby showing a lack of ethics and accountability in how they use their resources. While crypto trading, ICOs and token investing require better regulation around the world, they still represent part of the answer to an existing problem: an epidemic of distrust in collective systems and companies.

Tokens aren’t just incentivizing tech startups to grow faster, but are also empowering solutions in which blockchain is bringing many ethical upgrades to our planet. To invest in crypto is therefore like signing a petition that the world needs to be improved and giving distributed ledger technologies a chance.

Crypto exchanges and hedge funds are rapidly expanding and the way we conceive of “digital assets” is changing each year, showing that tokens and cryptoeconomics have a bright future in how they will intersect with every aspect of the way we do business on the planet Earth. If tokens are eating the underbelly of the world in 2018, by 2028 we may be seeing a mass adoption of the token economy in a completely different world.

By Michael K Spencer
source: medium.com 
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