Vlad Andrei - Tokens Deep Dive presentation
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The document explores the concept of tokens, their types, and the evolution of initial coin offerings (ICOs), highlighting their role in decentralized finance and open-source business models. It details various token categories such as currencies, utilities, and securities, alongside their legal, economic, and technical implications. The future of tokens and ICOs points towards improved governance, regulatory frameworks, and the growth of digital assets.
Vlad Andrei - Tokens Deep Dive presentation
- 1. 1 Tokens Deep Dive 2 Types of tokens 3 Future of tokens & ICOs 1 What is a token
- 6. 6 ICOs — early stage investing, reinvented Global Reach 2 1 No Investor Discrimination 3 Less Friction 4 Instant Liquidity 5 Small Transaction Fees 6 New Business Model for Open Source Code
- 7. • Limited governance & recourse rights • Not related to company equity • Can be autonomous and decentralized • Difficult to assess jurisdiction 7 What is a Token? Legally Economically Technically • A monetary system with predetermined rules • Crypto-economic incentives and penalties • Access to services & products • A native, blockchain specific “coin” • An Ethereum “ERC-20” token
- 8. 8 Types of Tokens Currencies • Standard • Bitcoin • Energy efficient (anti-POW, anti-mining centralization) • Litecoin • Privacy-focused • Zcash, Monero, PIVX • Proof of Stake related • Ripple, Stellar, Dash • On-chain governance • Decred Utility • Decentralized apps platforms • Ethereum, EOS, NEO, Cardano • Decentralized exchanges • 0x, Kyber, EtherDelta, AirSwap, Omega One • Decentralized storage • Sia, StorJ, FileCoin • Decentralized computing • Golem • Decentralized identity: Civic • Content creation: Steem, SingularDTV • Decentralized search: Bitclave • Decentralized advertising: BAT • Energy: Grid+, PowerLedger Securities • Funds: TheTokenFund, TaaS, BCAP • Many tokens will try to force their entry into the “Utility” category to avoid security regulations • Coinbase security calculator Assets/ Commodities • Real estate • Real.markets, LAToken • Gold • Royal Mint Gold • Zirconium • ZrCoin
- 9. 9 Future of Tokens & ICOs Governance & Regulation • corporate governance via token-based voting systems • KYC & AML integral part of most ICOs • event & KPI-based ICO funds release • timed release • KPI (# users, # downloads, # nodes, etc) • events (software release, partnerships, etc) • more clear delineation of security tokens • stricter requirements for trading on exchanges Token economy • shift from building products to building economies & communities • explosion of “security” tokens traded through DLT • explosion of “digital assets” (see ERC 721; crypto kitties) • 63% central banks have ongoing DLT POCs • banks to begin holding cryptocurrencies in reserve • 10,000+ ICOs in 2018 • $10B+ raised through ICOs in 2018 Technical Standardization • platforms that automate the ICO process: CoinList, Argon Group, Orderbook • platform to create digital assets: Ethereum