Tokens and the Token Economy

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Tokens and the Token Economy

Advisor
Posted February 13, 2020 in Business Technology & Digital Transformation Strategies


Business Technology & Digital Transformation Strategies

The combination of a blockchain data structure and a set of consensus rules allows something magical to happen: stateless, bankless, digital money (aka cryptocurrency). More precisely, what is loosely described as a cryptocurrency is a fungible “token” that is “native” to a blockchain. The major native tokens can be exchanged for the government-backed fiat currencies we are more used to, but smart contracts can create and maintain special-purpose tokens.