MEDIA

Token Economy – How Blockchain Tokens revolutionize the Internet

Dr. Shermin Voshmgir, VU Economics

Tokens are for the Web3 what websites were for the WWW in the 1990s. The talk will explain how blockchains & smart contracts have made it easy for anyone to create a token with just a few lines of code. They can represent anything from an asset to an access right, like gold, diamonds, a fraction of a Picasso painting or an entry ticket to a concert. Tokens could also be used to reward social media contributions, incentivize the reduction of CO2 emissions, or even ones attention for watching an ad. While it has become easy to create a token, the understanding of how to apply these tokens is still vague.