Token Economy
Proof-of-Work revolutionized collective value creation in the absence of intermediaries.
Shermin Voshmgir • Token Economy
Furthermore, smart contract security is still an issue that needs to be resolved on a technical level. More sophisticated contractual clauses need to be implemented to make smart contracts compliant with legal contracts, including decentralized dispute settlement mechanisms. While such developments might take more time to mature, some interesting d... See more
Shermin Voshmgir • Token Economy
Centralized data structures not only raise issues of security, privacy and control of personal data, but also produce many inefficiencies along the supply chain of goods and services.
Shermin Voshmgir • Token Economy
The protocol is a set of rules and processes that define how all the (anonymous) nodes in the network can reach an agreement on the true state of the network. The protocol defines how the participants in the network interact with each other: (i) under which conditions sending tokens from A to B is valid; (ii) the economic rewards for validating tra... See more
Shermin Voshmgir • Token Economy
One of the most pressing applied research questions when developing complementary technologies for the Web3 is the question of how to reward network participants with a token, so that the network stays attack resistant. Examples thereof would be incentive mechanisms for decentralized file storage solutions, decentralized computation, data analysis,... See more
Shermin Voshmgir • Token Economy
The term “smart contract” itself is a bit unfortunate, since smart contracts are neither particularly smart nor do they reflect legal contracts: (i) A smart contract can only be as smart as the people coding it, taking into account all available information at the time of coding; (ii) While smart contracts might have the potential to enforce legal ... See more
Shermin Voshmgir • Token Economy
While the Web2 was a front-end revolution, the Web3 is a backend revolution.
Shermin Voshmgir • Token Economy
Web2 platforms have introduced many beneficial services and created considerable social and economic value over the years. However, wealth was mostly accumulated by the companies offering the services, and less by the general public contributing content and value to those services. Instead of decentralizing the world, Web2 platforms contributed to ... See more
Shermin Voshmgir • Token Economy
Tokens might emerge to be one of the most important applications of smart contracts, potentially revolutionizing asset management as we know it. This is why the last two parts of this book are dedicated entirely to the topic of tokens.