Emergence of a Token Economy

Insightful piece in Irving Wladawsky-Berger's blog on Blockchain:

The Emergence of a Blockchain-Based Token Economy

Blockchain Revolution, published in May of 2016 by Don Tapscott and Alex Tapscott, was one of the first books that explained the promise of blockchain technologies to the general public.  Its central argument is that for nearly four decades, the Internet has been great for reducing the costs of searching, collaborating, and exchanging information.  But, it has serious limitations for business and economic activity.  “Doing business on the Internet requires a leap of faith,” the book noted.  The Internet was designed to move information, but it’s lacked the necessary trust, security and privacy safeguards to move assets of value.  With blockchain, we’re now seeing the emergence of such an Internet of value.  “Now for the first time ever we have a native digital medium for value, through which we can manage, store, and transfer any asset.”  .... "