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A Summary of

Crypto tokens and the coming age of protocol innovation

by
Albert Wenger
continuations
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Crypto tokens supporting new protocol innovations

Tokens as alternative

  • HTTP is the protocol for decentralized publishing
  • Was provided by tech incumbents
  • Blockchain technology can provide organizationally decentralized alternative
  • Cryptographic tokens as new incentive for protocol innovation

Blockchains as support

  • Blockchains issue and redeem tokens digitally
  • For-profit company can create new protocols by retaining tokens
  • If protocol widely used value of tokens increase
  • Creators of protocols can monetize it with tokens

Democratic

  • Natural limit on how much wealth can be retained
  • Democratic process for changing protocols
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