The downside of over tokenization
Surprising title here given that I am a supporter of the cause overall. Even more so now that Dan and the EOS team keep sharing their ideas and new organizational models.
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That said, I came across a great article from a dutch think tank that I wanted to share.
The trend is towards the tokenization of the world. It started with digital assets (software) for store of value, means of exchange, utilities. More interestingly, other forms of value are being turned into tokens, including the tokenization of likes, reputation, data-sharing, volunteer work, and charity. Do we stop, if so where?
https://www.dasym.com/downside-radical-tokenization/
Please read the whole thing but one point I would like to highlight is the following:
"Within the context of data-sharing, one could imagine that privacy becomes a matter of being rich, as poor people will probably sell their data to get by, whereas rich people can buy their privacy."
The article is very short and I'd like everyone's input on the topic. Let me know your thoughts!
@liotap. I too am a supporter of tokenization and any alignment with Dan (Steem, EOS). Interesting is that the article ends with positive implications (aside from their use of "radical"and "push").
The article points out certain concerns, however, by fact of coverage, they somewhat justify the need for tokenization for certain forms value exchange. Tokenization / SMTs are the future. Thanks you for sharing @liotap.
I’m really excited about tokenization that it allows illiquid assets (e.g. real estate, business inventory, and collectibles) to become more liquid, recently I heard more and more news about selling or buying real estate property for crypto currencies.
I don’t like too much volatility of crypto since value of these tokens is determined by markets of supply and demand, but I guess this is what we have to get used to, at least for now.
The article mentioned downsides of tokenization. And I have to agree as poor people will probably sell their data to get by, whereas rich people can buy their privacy. And privacy is the most important to me when it comes to any investments.
I think this is one of the best ideas as a lot of the tokenization is facilitated by underlying smart contract blockchain platforms like Ethereum...With the increasing popularity of these new tokens, the underlying blockchain will also increase its network effects.
Well said @milano1113. Valid concern re vol, which will decrease over time as liquidity increases through greater adoption, market makers, ability to convert to fiat, etc.
I completely agree with you, I have no idea how people are getting through times like for example now, this correction, who invested all their money in to crypto. I have invested certain percentage of my portfolio with my mind set as just to forget it for the near future. In other words I’m a long therm investor. I bought at the prices where it’s approximately right now, but whatever happens, in worst case scenario I’m prepared to loose it all.
Thank you!
I hear ya re allocation to crypto. Some of my positions basis are around here as well. New investment vehicles will always be volatile, given markets that are open 24/7 globally, with instant settlement, that will be magnified as we see. It will take time. Hopefully with the financial markets acting like this past week and today, more investors will see crypto as not that volatile and as a legit asset class to have exposure to.
ok already I vote. do not forget to vote back
a very good post @liotap, although I still do not understand what you explain this. Because my goal it is to learn to know about steemit further, so that later I can succeed in steemit. Therefore I always read all the articles of people who discuss about steemit, bitcoin, crypto. Thank you and hopefully you will be more successful in working...
the post really is to trigger a discussion and a collective reflection. I think we all may express our opinions while considering all the information available to us, albeit undeniably incomplete.
if you have a few good examples of tokens and also bad ones (perhaps people abusing the use of the technology for the purpose of personal enrichment), please share!
I already understand what you mean, I will try to do as you have said. As I study and I keep trying to get to know steemit far again. Thank you so much for the advice and knowledge you have shared. I am not ashamed, if if you say I am a very fool, Because the most important for me is you share my knowledge. Because in my opinion, to be successful it must be sure and keep learning anywhere.
I think tokenization of the world cause especially hard work to bi financial centers of the world. other people always a part of any system that established peoples or countries which have big economic power. so tokeniation doesnt affect normal people negatively. But a new system will be built so this system destroy the old one. so there will be a fight new or old. probably owner of the old system will be owner of the new system.
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Woww, a very world post very deserved to be praised by the master steemit
Over tokenization also lead to the unworthiness of crypto coin. :)