Ledger Technology - Token Economics

Описание: An economy doesn’t just start from scratch, it emerges from its underneath technology and it is the expression of the technology. And Economics is a set of principles, rules, methodologies to guide the exploitation of technology and operation of the economy.


Why do we need Token Economics?

Token, as the symbol of Value, is the core of the whole economics model. As indicated in the left part of the chart, token economics cares about how value is created, how to distribute and circulate it among your community members, what are the mechanisms to consume the tokens, actually you will need to set up a delicate financial model to make it work. Also, token is deemed as a confirmation of rights, to get the reward and rights when you contribute to the community, so this is the right part, the incentive model. In this part, token economics will research what kind of organization is suitable, what the incentive model is, and what are the changes to the governance model.

Let’s have an example here, when the textile machine was newly introduced in England in the 17 century, it significantly changed the way people work and live. In the past, they worked in a small family workshop, producing textile manually, while with the machine introduced, a new kind of organization?—?the factory emerged, so people started to work in the factory, with a fixed working time, and got paid according to their workload, also different kinds of management methods were created accordingly to facilitate the whole process.

The blockchain is the new textile machine, and we will need a new organization structure, a new incentive model and governance model to fit for it.



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