What does token economy mean and what is token economy

The token economy is a landing application of the perfect combination of blockchain technology and the real economy, using the token to record the contribution of consumers and distribute part of the profits and value to consumers. The token economy has changed the era of consumer awakening and the era of token economy reflecting consumer value.

The key path of industrial blockchain + business scenario application landing, on the basis of economic value embodiment and ecological value transformation function, uses tokens, which are convenient for splitting and anti-counterfeiting, to circulate.

Combined with the existing business model of the enterprise and the characteristics of blockchain technology, in view of the problems in the traditional business process such as too cumbersome, too high a degree of centralization or too many intermediaries, the existing production relationship is deconstructed with the logic of token economy, and the future lightweight and convenient business ecology is reinterpreted and built.

The three elements of a token.

1. Digital Proof of Stake. The token must be a digital proof of stake, and it must represent a right, an intrinsic and intrinsic value. Tokens can represent all certificates of equity that can be digitized, from ID cards to academic diplomas, from currency to bills, from keys, tickets to points, cards, coupons, from ** to bonds, accounts, ownership, qualifications, certificates and other proof of rights and interests of human society, which can be represented by tokens.

2. Encryption. The authenticity, tamper-proofness, privacy protection and other capabilities of the token are guaranteed by cryptography. Each token is a right protected by cryptography. This protection is stronger and more reliable.

3. It can be circulated. Tokens must be able to flow through a network so that they can be verified anytime, anywhere.

Tokens are a characteristic application of blockchain, and without tokens, the incentive effect may be reduced, and the advantages of blockchain may not be fully utilized.

Token is the proof of human existence in production, savings, exchange, distribution and other activities, is a kind of identity, a right, a value carrier, a relationship link, with it can carry out production, saving, exchange, distribution and other activities, you can use, process, distribute all materials.

What is a Token? Understand the mining principle of pi coin in 3 minutes?

The token economy is the economy that makes full use of the tokens. The token inspires and encourages everyone to take out all kinds of proof of equity, such as tickets, points, contracts, certificates, qualifications, etc., so that the market can automatically discover it; At the same time, these are things that can be verified and consumed in real economic life.

Extended Material: Evolution of the term "economy".

1. The carrier form of economic activities, the term "economy" has been officially used in the Eastern Jin Dynasty at the beginning of the 4th century AD. The word "economy" is a synthesis and simplification of the words "economic state", "economic country", "helping the world", "helping the people", and "helping the people through the world", which contains the meaning of "governing the country and leveling the world". It is a very huge concept in ancient Chinese culture and ancient literature, full of rich humanistic ideas and social connotations, and the ancient famous couplet has a sentence in the sentence "the article is a double Sima in the Western Han Dynasty, and the economy is a Wolong in the economy", which is the meaning of economic prosperity and the world.

2. We can see that the word "economy" represented one of the responsibilities of intellectuals in ancient times, and it was a word with great depth, breadth and height. Those who can achieve the word "economy" must be able to prosper the country in peace, and be able to resist insults but enemies. Ancient intellectuals, especially those of Confucianism, would follow the requirements of the "Three Programs and Eight Goals" in the "University" to do their studies and conduct themselves, and the highest requirement of the Three Programs and Eight Programs was to "govern the country and level the world", which was the most outward-looking expression of the word "economy" in ancient times.

3. As for the modern word "economy", it is actually the result of the introduction of Japanese translations in China. At the end of the Qing Dynasty, the Japanese set off a wave of industrial revolution, accepted, absorbed, and propagated Western culture, translated a large number of Western books, and translated the word "economics" as "economy" as early as the "Japanese-English Translation Pocket Dictionary" published in 1862. In the New Culture Movement, the Western culture that Japan had learned spread to China, and Liang Qichao first translated the term as "livelihood" in his 1902 essay "On Freedom" and noted "that is, Japan's so-called economy", and the word "economy" began to be widely used in China.

The token economy is allowed by the state. Token economy refers to the public and legal issuance of tokens under the determined regulatory framework and in accordance with the requirements of national laws, regulations and administrative regulations. In a year of vigorous development of public chains and tokens, the token economy can be said to have opened the door to a new world of blockchain.

Article 28 of the Regulations of the People's Republic of China on the Administration of Renminbi.

No unit or individual may print or sell tokens and coupons to circulate in the market instead of RMB.

Article 29.

No unit or individual may print or sell tokens and coupons to circulate in the market instead of RMB.

Article 30 The quota management system shall be implemented for Chinese citizens entering and leaving the country and foreigners carrying RMB into and out of the country, and the specific quota shall be set by the People's Bank of China.

Article 31.

It is forbidden to forge or alter the renminbi. It is forbidden to purchase counterfeit and altered RMB. It is forbidden to smuggle, transport, possess or use counterfeit or altered renminbi.

Article 32.

Units and individuals holding forged or altered renminbi shall promptly hand them over to the People's Bank of China, public security organs or financial institutions handling renminbi deposit and withdrawal business; If it is discovered that another person is in possession of counterfeit or altered renminbi, it shall be immediately reported to the public security organs.

Article 33.

If the People's Bank of China or public security organs discover forged or altered renminbi, they shall confiscate it, affix a stamp with the word "counterfeit currency", and register it; If the holder has objections to the authenticity of the renminbi confiscated by the public security organs, he may apply to the People's Bank of China for appraisal.

The public security organs shall hand over the confiscated forged or altered renminbi to the local People's Bank of China.

It can bring about a new round of digital economic revolution, so is the token economy legitimate?

Token economy can be simply understood as a kind of certificate that can be circulated. Token economy refers to the regulation of laws and regulations under a defined regulatory framework.

Administrative regulations, legal and compliant public issuance of tokens. Its advantages are as follows:

1. It can fully meet the market demand, and issue proof of equity according to market requirements and based on its own resources and service capabilities;

2. High circulation velocity;

3. Transparent. At the same time of high-speed circulation and trading, it ensures that the products will be quickly determined in the market;

4. The application of token intelligence.

The token economy was legal when it began to operate, but it was later exploited by some criminals, resulting in some illegality later, and many people's cognition of it was simply indistinguishable.

Summary. Good evening, the token economic platform is as follows: 1. EOS:

EOS is a decentralized application platform based on blockchain technology, which provides a high-performance, scalable, and low-latency blockchain application environment, supports smart contracts and decentralized applications, and helps developers quickly build and deploy decentralized applications. 2. OmiseGo: OmiseGo is a decentralized financial network based on the Ethereum blockchain, which aims to build a secure, reliable, and scalable financial service network that supports multiple asset transactions and transactions, and can support multiple currency types.

3. TRON: TRON is a decentralized entertainment protocol that aims to provide a scalable entertainment ecosystem for users around the world. TRON supports distributed storage, decentralized transactions, smart contracts, and decentralized applications to help users achieve a decentralized entertainment experience.

4. Stellar: Stellar is a decentralized global payment network that aims to improve the global financial system and provide fast, secure, and low-cost cross-border payment services. Stellar supports multiple currency types, can support transactions between multiple currencies, and supports decentralized transactions.

Good evening, the token economic platform is as follows: 1. EOS: EOS is a decentralized application platform based on blockchain technology, which provides a high-performance, scalable, and low-latency blockchain application environment, supports smart contracts and decentralized applications, and helps developers quickly build and deploy decentralized applications.

2. OmiseGo: OmiseGo is a decentralized financial network based on the Ethereum blockchain, which aims to build a secure, reliable, and scalable financial service network that supports multiple asset transactions and transactions, and can support multiple currency types. 3、tron：

TRON is a decentralized entertainment protocol that aims to provide a scalable entertainment ecosystem for users around the world. TRON supports distributed storage, decentralized transactions, smart contracts, and decentralized applications to help users achieve a decentralized entertainment experience. 4、stellar：

Stellar is a decentralized global payment network that aims to improve the global financial system and provide fast, secure, and low-cost cross-border payment services. Stellar supports a variety of currency types, can support transactions between multiple currencies, and supports decentralized transactions.

Related information: Token economy, non-sharing economy, mainly refers to a new economic model based on strangers and the temporary transfer of the right to use items for the purpose of obtaining a certain remuneration for the main loss of the first brother god.