Towards a new token economy

“ConsenSys, a venture capital production studio centered on Ethereum, announced its new Token Foundry service last year. Within the terms of ConsenSys Capital, Token Foundry will help customers “develop a well-designed and practical token”.

Token Foundry officially began on April 12 last year, which is ConsenSys Capital’s “newest combination of financial services for digital assets”. Per ConsenSys is a new organization led by founder Harrison Hines, with the goal of helping to achieve the elite quality of the token economy of each project: “Token Foundry helps blockchain project designers to collaborate safely and transparently The way to release functional tokens that are both good and useful. The Token Foundry team uses its token economics, game theory and distributed systems expertise to advise on projects and create best practices for the new token economy. “

ConsenSys founder and Ethereum co-founder Joseph Lubin called Token Foundry “the standard for improving token design.” Of course, the motivation is to promote the upcoming wave of tokenization. Harrison Hines pointed out in Foundry’s introductory blog post: “The core of this movement is tokenization. Tokens are catalysts for reimagining classics, innovations, and system architectures that were previously impossible to build. They are likely to be globally A new way of achieving fairness, security and even distribution to achieve coordination and create value.”

About ‘consumer tokens’

Later in the introductory article, founder Hines detailed the two tokens that Token Foundry will focus on: consumer tokens and securities tokens.

Hines accordingly defines consumer tokens: “The best use case for tokenization is called ‘consumer tokens’, which are tokens designed for “using” or “consumption.” These tokens are similar to membership. , licenses, collectibles and bonus points, etc. But most importantly, they can drive adoption of new decentralized networks.”

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