Now almost half way into 2017, Bitcoin and the Crypto-Currency World are in for a major change. I believe that 2017 will be known as the year of The Token Economy. The Token Economy will consist of all crypto-currencies, but will strip the technical terms for a much simpler concept that most can understand: a token. Most everyone knows that a token is used to "pay for something" such as a bus fare, to use in a slot machine or pay for a car wash. Tokens are even used at certain arcades instead of using actual government minted coins. This concept of using tokens in-lieu of money or cash is hundreds if not thousands of years old.
The only difference now is that the Token will be on a computer and not physically in your hand. Simple and Brilliant!
Welcome to the TOKEN ECONOMY, with STEEM and STEEM DOLLARS being two of the more preferred computer tokens. This idea of the Token Economy will carry Bitcoin, Ethereum, and STEEM to the next level of exposure the masses. This in turn will drive the Token Economy for the next several years, possibly reaching a $500 Billion Market Cap. in the next 5 years.
Who is riding this TOKEN rocket to the moon??
Anyone going to the Token Summit in New York City on May 25, 2017??
I wish I was!
Full Steem Ahead!
05/12/2017
Hello.
Do you make a distinction between a crypto currency and a token like ERC20 tokens are?
Thanks!
Good question @ervin-lemark ! ERC20 would fall under this new "Token Economy." ERC20 is simply a standard to be adhered to by the "tokens" created on or for the Ethereum Blockchain.
Yes, that's what I was implying :)
ERC20 tokens are tokens^2 :)
They are easy to create, don't require a separate blockchain, ...
My guess is that we will see many more of this kind of tokens in the future.
Thanks @pizonchik Nice Gifs by the way!
full steem ahead!