Token Economy
From a computer science perspective, the term “identity” can be reduced to the data elements related to the identity management process: “identifier,” “authentication,” and “credentials.”
Shermin Voshmgir • Token Economy
Tokens are to the Web3 what websites were to the Web1.
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.
Shermin Voshmgir • Token Economy
If you can’t hold state in the Internet, you cannot transfer value without centralized institutions acting as clearing entities.
Shermin Voshmgir • Token Economy
The Bitcoin network and other distributed ledgers all represent a collectively maintained public infrastructure and are the backbone of the next generation Internet, what the crypto community refers to as the Web3.
Shermin Voshmgir • Token Economy
Instead of a single trusted third party validating transactions through their servers with authority (single vote), a P2P network of computers running the blockchain protocol validates transactions by consensus (majority vote).
Shermin Voshmgir • Token Economy
While the Web2 was a front-end revolution, the Web3 is a backend revolution.
Shermin Voshmgir • Token Economy
Can I trust those people and institutions that store and manage my data against any form of corruption—internally or externally, on purpose or by accident?
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.