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RE: Open Discussion on Small Business Tokens
Great post Jeff
Tokens are great but we can not live in a world which each small business have a token
It's will be very hard to track the exchange rate and will be very hard to know what is the real price , right now there are more then 1,500 different alts which in my eye way too much
There is a need in tokens but to avoid scams and to have some control the world can not handle more then ~100 in my opinion
Why can't we crowdsource micro-loans then? The technology is there and we can spread the risk. We already have aid organizations doing it for the third world, we need to create ways to build capital and wealth outside traditional channels.
Yes technology is there and we need to create ways to build capital and wealth outside traditional channels.
How ever we can not live in a world that have 1,000,000,000 different tokens from few reasons , in this case you will have many scams and frauds, you will make it really hard for people to know how much they are really pay about service or a product you must to have some base currency otherwise you in a way to chaos
Why can't there be 1,000,000,000 different tokens? There are already that many coupons, discount clubs, reward programs etc. You don't participate 99.99% of them. Why would you buy a coin that you don't use a service for, in a city, state or country you don't live in?
I see how you are concerned about so many tokens. My model does not imagine these tokens would all be available on Binance, and certainly liquidity would be harder for smaller businesses.
But the tokens here shouldn't be viewed in the same way you might view bitcoin or ethereum. You wouldn't spend your PBX to buy gas. The token acts far more like a security than a currency.