Here's a reworded, unpublished piece that we wrote back in 2014. It's nice to dig into long-lost random notepad files. One for the blockchain:-
If Bitcoin is just one universe of miners with its limited-resource engineered to be a store of value, the conclusion is that of an emergence of a token economy in the future. Since these tokens are programmable and can be engineered, they could theoretically represent anything that we human beings can think of especially when it comes to problem-solving. Money is belief and belief drives the economy. So as long as there are community and bot activities surrounding a token, it should remain valuable.
Taken to the extremes, here's what a token economy may look like:-
- Every single word in all languages will have their own tokens and markets.
- Sub-markets can be lively, emergent, and fleeting.
- Every individual, groups, and peer-to-peer relationships will have their own tokens to represent themselves.
- Basically anything that can be tokenised, will be tokenised.
- There will be tokens that aggregate groups of tokens.
- All of these tokens should at one point, be easily exchanged with any other tokens.
- Such shapeshifting ability in high-utility tokens should collectively outperform national currencies in growth at one point in time.
- People will be free to opt into various kinds of tokens which represents different socioeconomic ideologies instead of being stuck in a limited set of social currencies.