Canadian - Businessman | -
Owning a token bestows a right that results in product usage, a governance action, a given contribution, voting, or plain access to the product or market.
William Mougayar
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I'm looking forward to seeing more ICO projects provide increased clarity about the performance metrics expectations they plan to exhibit during their future adult lives in addition to the assumptive utility of that token they are selling.
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If you have your own currency, you have your own governance, so each currency becomes their own mini-government. Mini-government is a big word, but it's a body that is governed in a decentralized manner where users have a say, where there's oversight and transparency.
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Just like paying a toll to use a freeway, the token can be the pay-per-use rail for getting on the blockchain infrastructure or for using the product. This also ensures that users have skin in the game.
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Many regulators are quick to apply existing compliance practices that treat tokens as a security, therefore elevating the barriers and costs of implementation for entrepreneurs.
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When (not if) regulators start looking at ICO deals they might want to investigate, they will likely start with the ones that exhibit weaknesses.
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The blockchain is custom-made for decentralizing trust and exchanging assets without central intermediaries. With the decentralization of trust, we will be able to exchange anything we own and challenge existing trusted authorities and custodians that typically held the keys to accessing our assets or verifying their authenticity.
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The blockchain is an asset normalization platform that can enable a new liquidity in transactions, hence creating large networks of usage and value effects with benefits in speed, cost, quality, or outcomes.
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Study how to write smart contracts, which is the basic unit of programming a blockchain for business purposes. It is the equivalent of being taught HTML and Java during the early Internet days. And master how to create assets or tokenize existing ones on a blockchain.
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In my opinion, one of the most exciting potentials of the blockchain relate to creating new business models, whether in public or in private settings. In most of these cases, the new models don't care for incumbents because they are mostly on a disruption quest.
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The token itself is not your new business model. What the token enables for you and for your users is the key part to focus on.
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As much as one would like to think that what China does doesn't matter, the reality is that when China sneezes at crypto, the rest of the world catches the cold.
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