1) Tokens can serve as new mechanisms to govern blockchain platforms by functioning as incentive mechanisms, access mechanisms, and coordination mechanisms. As incentive mechanisms, tokens can reward contributions and discourage bad behavior. As access mechanisms, tokens can be used to access platform services and functionality. As coordination mechanisms, tokens can define and coordinate the behavior of different actors.
2) Tokens influence the development of blockchain platform ecosystems by creating new participation structures and network effects. They allow users to participate in a platform's success and better align incentives. They also leverage new kinds of "token network effects." Further, tokens can help create self-governing and organic ecosystems through standards and democratic processes.
3) The study provides theoretical and
CopyrightLY: Blockchain and Semantic Web for Decentralised Copyright ManagementRoberto García
CopyrightLY focuses on building an authorship and rights management layer that provides a set of services to claim authorship, on both content and data. Moreover, it also makes it possible to attach reuse terms to these claims, which state the conditions to reuse the associated data or content. This authorship and rights management layer will constitute the foundation for future services built on top of it, like social media copyright management or media monetisation through NFTs.
Is there a token for that? Tokens demystified.Jan Brejcha
This presentation aims at providing a brief introduction to crypto tokens, how they can be beneficial for the users, and why they can disrupt current industries. Various examples will be discussed.
Crypto tokens are a special kind of signs representing objects and/or functions living in the underlying blockchain, and can be generated by smart contracts.
Tokens enable the viability of open source protocols, and dApps (decentralized applications), which was previously unattainable.
Current regulatory frameworks try to mitigate frauds in ICOs, while helping establish tokens as a new asset class.
Web 3 and IP: Cryptocurrencies, Blockchain, and NFTsAurora Consulting
“Metaverse” is the buzziest of the buzzwords in tech and will soon be joining the ranks of “AI” and “ML” as requisite keywords in the next generation of pitch decks and patent applications. But what are the core components of the Metaverse? And what are their implications in the world of intellectual property? The Patently Strategic Podcast will be exploring this topic over the course of several upcoming episodes.
** Web 3.0: Metaverse Building Block **
We begin our exploration with Web 3.0. While it may prove to be the next great tech revolution, the broad shape and definition of the Metaverse is still more firmly baked in science fiction than in commercial tech reality. Many of its core building blocks, however, are likely right in front of our eyes (or headsets, perhaps). History shows that most major technology revolutions are rarely leaps, but instead evolutionary products of incremental steps, composed of many existing building blocks, met with market readiness. The Web 3.0 innovations of blockchain, cryptocurrency, and NFTs that are taking shape in front of us will no doubt be among these essential building blocks. With an ability to touch both our physical and virtual worlds, cryptocurrencies could form the monetary basis for all economic activity in the Metaverse. NFTs make it possible for unique items to exist and assets to be exclusively owned in the digital realm. The very foundations and infrastructure for the Metaverse and its virtual worlds could be built on blockchain.
Perhaps the Metaverse is simply how we experience the third major phase of the web – or maybe in its purest, most decentralized form, the Metaverse is built entirely on top of it. In any case, it's hard to imagine a future where the two are not inextricably linked.
** IP Implications **
This third phase of the internet also poses some of the most interesting questions for the world of IP. What will the impact be on digital property rights in a secure marketplace, governed by smart contracts? How will copyrights play in digital worlds with their own art and governance? Is there merit in considering a new type of protection category outside of patents and copyrights?
** Episode Overview **
In our inaugural IPWatchdog episode, Kristen Hansen, Patent Strategist and software patent guru, leads a discussion along with our all star patent panel, digging into:
* The fundamentals of blockchain, cryptocurrencies, and NFTs – and why the hype
* The state of the technology
* Questions around what web evolution, blockchain, and NFT technology means for IP ownership
Strategies for protecting blockchain and cryptocurrency innovations
Podcast Link: https://patentlystrategic.buzzsprout.com/1734511/10694308-into-the-patentverse-web-3-0-blockchain-cryptocurrency-and-nfts
Blog post: https://www.aurorapatents.com/blog/new-podcast-into-the-patentverse-vol-1
CopyrightLY: Blockchain and Semantic Web for Decentralised Copyright ManagementRoberto García
CopyrightLY focuses on building an authorship and rights management layer that provides a set of services to claim authorship, on both content and data. Moreover, it also makes it possible to attach reuse terms to these claims, which state the conditions to reuse the associated data or content. This authorship and rights management layer will constitute the foundation for future services built on top of it, like social media copyright management or media monetisation through NFTs.
Is there a token for that? Tokens demystified.Jan Brejcha
This presentation aims at providing a brief introduction to crypto tokens, how they can be beneficial for the users, and why they can disrupt current industries. Various examples will be discussed.
Crypto tokens are a special kind of signs representing objects and/or functions living in the underlying blockchain, and can be generated by smart contracts.
Tokens enable the viability of open source protocols, and dApps (decentralized applications), which was previously unattainable.
Current regulatory frameworks try to mitigate frauds in ICOs, while helping establish tokens as a new asset class.
Web 3 and IP: Cryptocurrencies, Blockchain, and NFTsAurora Consulting
“Metaverse” is the buzziest of the buzzwords in tech and will soon be joining the ranks of “AI” and “ML” as requisite keywords in the next generation of pitch decks and patent applications. But what are the core components of the Metaverse? And what are their implications in the world of intellectual property? The Patently Strategic Podcast will be exploring this topic over the course of several upcoming episodes.
** Web 3.0: Metaverse Building Block **
We begin our exploration with Web 3.0. While it may prove to be the next great tech revolution, the broad shape and definition of the Metaverse is still more firmly baked in science fiction than in commercial tech reality. Many of its core building blocks, however, are likely right in front of our eyes (or headsets, perhaps). History shows that most major technology revolutions are rarely leaps, but instead evolutionary products of incremental steps, composed of many existing building blocks, met with market readiness. The Web 3.0 innovations of blockchain, cryptocurrency, and NFTs that are taking shape in front of us will no doubt be among these essential building blocks. With an ability to touch both our physical and virtual worlds, cryptocurrencies could form the monetary basis for all economic activity in the Metaverse. NFTs make it possible for unique items to exist and assets to be exclusively owned in the digital realm. The very foundations and infrastructure for the Metaverse and its virtual worlds could be built on blockchain.
Perhaps the Metaverse is simply how we experience the third major phase of the web – or maybe in its purest, most decentralized form, the Metaverse is built entirely on top of it. In any case, it's hard to imagine a future where the two are not inextricably linked.
** IP Implications **
This third phase of the internet also poses some of the most interesting questions for the world of IP. What will the impact be on digital property rights in a secure marketplace, governed by smart contracts? How will copyrights play in digital worlds with their own art and governance? Is there merit in considering a new type of protection category outside of patents and copyrights?
** Episode Overview **
In our inaugural IPWatchdog episode, Kristen Hansen, Patent Strategist and software patent guru, leads a discussion along with our all star patent panel, digging into:
* The fundamentals of blockchain, cryptocurrencies, and NFTs – and why the hype
* The state of the technology
* Questions around what web evolution, blockchain, and NFT technology means for IP ownership
Strategies for protecting blockchain and cryptocurrency innovations
Podcast Link: https://patentlystrategic.buzzsprout.com/1734511/10694308-into-the-patentverse-web-3-0-blockchain-cryptocurrency-and-nfts
Blog post: https://www.aurorapatents.com/blog/new-podcast-into-the-patentverse-vol-1
Blockchain and BPM - Reflections on Four Years of Research and ApplicationsIngo Weber
In this keynote, delivered at the Blockchain Forum of BPM 2019, I summarized and reflected on research on BPM and blockchain over the last four years, including model-driven engineering, process execution, and analysis and process mining. I also covered selected use cases and applications, as well as recent insights on adoption. The keynote closed with a discussion of open research questions.
Ethereum Classic and Crypto Monetary Policy London EventAvtar Sehra
Update on what has happened so far in the ETC Ecosystem and future developments. Overview of the planned ETC monetary policy proposal and why it matters
Crypto tokens are digital assets created on an established blockchain network. Crypto tokens, unlike traditional currencies, are decentralized, which means they are not controlled by any central authority or government and may be exchanged globally without the use of middlemen. The underlying technology for most crypto tokens is blockchain, which is a distributed ledger technology that records all network transactions.
VCs have for the most part retreated from investing in Bitcoin and Blockchain. The appetite for blockchain products however has only increased. Corporations have formed consortiums such as R3 and the Hyperledger Project to learn more about the technology. Numerous enterprises have rolled out internal pilots to test and explore the applications of blockchain.
At Thomvest, we believe blockchain adoption is about to take off - making it a prime time for VCs to begin making early stage bets.
Take a look at our most recent research report which delves into the current state of blockchain.
An evaluation of Ethereum technology. The weakness and the strength of this new blockchain technology. It includes also a comparison between Ethereum and Bitcoin.
An introductory presentation discussing the basics of technology behind blockchain, cryptocurrency mining, and an attempt to value a cryptocurrency. Further discussion on altcoins, and a preview on ICOs.
Blockchain: The Information Technology of the FutureMelanie Swan
The blockchain concept may be one of the most transformative ideas to impact the world since the Internet. Cryptocurrencies like bitcoin are merely one application of the blockchain concept. The blockchain is a public transaction ledger built in a decentralized network structure based on cryptographic principles so that any kind of trading, buying and selling of assets does not need to go through a centralized intermediary. Any kind of asset may be encoded into the blockchain and transacted, validated, or preserved in a much more efficient manner than at present including ideas, health data, financial assets, automobiles, and government documents. Venture Capitalists are calling the blockchain the next big investment wave.
_token generator platform for token development_.pptxBlockchainX
At BlockchainX tech, we help startups, medium-sized enterprises, and large-sized businesses by providing end-to-end blockchain development services such as token creation, token sale distribution, landing page design, whitepaper writing, and smart contract creation. As your business idea is unique your cryptocurrency launch process will also be one of a kind. Our blockchain experts help you analyze your concept to make sure that your idea is effective enough to motivate people for funding. Our experience so far in ICO and blockchain development is unmatched and it allows us to provide stable cryptocurrency solutions that are tailor-made to match your business requirements. Raise your Initial Coin Offering with minimal steps and get professional guidance from our team of blockchain and cryptocurrency experts.
A blockchain overview that covers cryptocurrency, smart contracts, the role of miners and developers, the differences between private, public, and hybrid chains, and an overview of Ethereum Classic and ETC Labs.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Blockchain and BPM - Reflections on Four Years of Research and ApplicationsIngo Weber
In this keynote, delivered at the Blockchain Forum of BPM 2019, I summarized and reflected on research on BPM and blockchain over the last four years, including model-driven engineering, process execution, and analysis and process mining. I also covered selected use cases and applications, as well as recent insights on adoption. The keynote closed with a discussion of open research questions.
Ethereum Classic and Crypto Monetary Policy London EventAvtar Sehra
Update on what has happened so far in the ETC Ecosystem and future developments. Overview of the planned ETC monetary policy proposal and why it matters
Crypto tokens are digital assets created on an established blockchain network. Crypto tokens, unlike traditional currencies, are decentralized, which means they are not controlled by any central authority or government and may be exchanged globally without the use of middlemen. The underlying technology for most crypto tokens is blockchain, which is a distributed ledger technology that records all network transactions.
VCs have for the most part retreated from investing in Bitcoin and Blockchain. The appetite for blockchain products however has only increased. Corporations have formed consortiums such as R3 and the Hyperledger Project to learn more about the technology. Numerous enterprises have rolled out internal pilots to test and explore the applications of blockchain.
At Thomvest, we believe blockchain adoption is about to take off - making it a prime time for VCs to begin making early stage bets.
Take a look at our most recent research report which delves into the current state of blockchain.
An evaluation of Ethereum technology. The weakness and the strength of this new blockchain technology. It includes also a comparison between Ethereum and Bitcoin.
An introductory presentation discussing the basics of technology behind blockchain, cryptocurrency mining, and an attempt to value a cryptocurrency. Further discussion on altcoins, and a preview on ICOs.
Blockchain: The Information Technology of the FutureMelanie Swan
The blockchain concept may be one of the most transformative ideas to impact the world since the Internet. Cryptocurrencies like bitcoin are merely one application of the blockchain concept. The blockchain is a public transaction ledger built in a decentralized network structure based on cryptographic principles so that any kind of trading, buying and selling of assets does not need to go through a centralized intermediary. Any kind of asset may be encoded into the blockchain and transacted, validated, or preserved in a much more efficient manner than at present including ideas, health data, financial assets, automobiles, and government documents. Venture Capitalists are calling the blockchain the next big investment wave.
_token generator platform for token development_.pptxBlockchainX
At BlockchainX tech, we help startups, medium-sized enterprises, and large-sized businesses by providing end-to-end blockchain development services such as token creation, token sale distribution, landing page design, whitepaper writing, and smart contract creation. As your business idea is unique your cryptocurrency launch process will also be one of a kind. Our blockchain experts help you analyze your concept to make sure that your idea is effective enough to motivate people for funding. Our experience so far in ICO and blockchain development is unmatched and it allows us to provide stable cryptocurrency solutions that are tailor-made to match your business requirements. Raise your Initial Coin Offering with minimal steps and get professional guidance from our team of blockchain and cryptocurrency experts.
A blockchain overview that covers cryptocurrency, smart contracts, the role of miners and developers, the differences between private, public, and hybrid chains, and an overview of Ethereum Classic and ETC Labs.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
1. 1
The Role of Tokens as Boundary
Resources to Govern Blockchain
Ecosystems
Nikolaus Lipusch
Blockchain Summit- National University of Singapore
06.12.2018
4. 4
Overview
1.) What?
- Tokens as new Mechanisms to Govern Platforms
2.) Why?
- To solve common challenges that are associated with platform
governance (e.g. third-party development, chicken-egg problem
etc.)
3) For whom?
- Researchers who try to understand how these new mechanisms
influence platform governance and development
6. 6
Tokens : A Brief History
• According to the Cambridge dictionary
tokens denote “a round, metal or plastic
disk which is used instead of money in
some machines”. Hence, tokens can be best
understood as a voucher or a gift card that
can be used to consume a variety of
services within a certain context (e.g. a
shop, a fair, a casino, a vending machine or
a platform)
• Tokens originally emerged in the fields of
behavioural economics and psychology with
the aim to modify behaviour of
institutionalized individuals (Kagel, 1972;
Winkler, 1971).
8. 8
Tokens: A New Phenomenon
$0.1B
$0.4B
$2.8B
2016/Q4 2017/Q4
Investment in Blockchain Start-ups in US$m
Venture Capital ICOs
Top ICOs 2017
Hdac US$ 258M
Open source platform for
IoT solutions
Filecoin US$ 257M
Decentralized storage
network
EOS US$ 185M
Open source platform for
scalable decentralized
apps
Paragon US$ 183M
Decentralized
marketplace for the
cannabis industry
During 2015 – 2017 a rising number of companies created and issued
their own tokens via so called “Initial Coin Offerings” to finance the
development of their own blockchains or blockchain applications.
Blockchain start-ups absorbed 5X more capital via
ICOs than equity financings in 2017
Source: cbinsights 2018
13. 15
Research Context – The Blockchain
Blockchain
Cryptography Distributed Systems
transaction order
• Elliptic curves
• Discrete Logarithms
• 3 x 5 -> 15
• ? X ? <- 9.515.460….
public key
private
key
Inp Outp
Digital signature
• Network of
Computers (fault
tolerant)
• Consensus
Algorithms (closed
set of machines)
• Proof of Work
Validation of
transactions
transaction
14. 16
Research Context – Blockchain Ledger
Definition: „The blockchain denotes a decentralized, shared
ledger that uses chronological, encrypted and chained blocks
to store verifiable and synchronized data across a peer-to-
peer (P2P) network” (Schlegel, Zavolokina, & Schwabe, 2018).
Block 22 Block 23 Block 24
Hash of the
previous block
Hash of the
previous block
Hash
Hash
Transaction z
Transaction y
Transaction x
.
.
.
.
.
.
15. 17
Research Context – How the Blockchain Works
v
User A wants to send
money to user B
The transaction gets
stored in a block1 2 3
The block is
broadcasted to the
network
User B receives the
money from User A 6 5 4
The network validates
and approves
transactions within the
block
The block is added to the chain
which represents a permanent,
imutable, and transparent
record of transactions
16. 19
Research Context – Public vs. Private Blockchains
Public Private
Access Open read/ write Permissioned read and/or
write
Speed Slower Faster
Security Proof-of-Work/ Proof-of-
Stake
Pre-approved participants
Identity Anonymous/Pseudonym
ous
Known identies
Asset Native assets Any assets
18. 22
Theoretical Background – Platform Boundary
Resources
- Boundary object, which is an artifact plastic enough to cut across multiple
social worlds by providing enough structure to support several parties and
their employed activities within separate social worlds (Bergman et al. 2007;
Star and Griesemer 1989).
- Platform boundary resources allow third-party developers to build
applications on top of the software platform (Ghazawneh & Henfridsson 2013).
19. 23
Theoretical Background – Functions of Platform
Boundary Resources
• Platform Expansion
– E.g. Application Programming Interfaces (APIs), Software
Development Kits (SDKs)
• Platform Control
– E.g. appliction review processes, license agreements
• Other Functions: monetizing, resourcing, securing etc. (see
Ghazawneh & Henfridsson 2013)
21. 25
Research Question
RQ1: What is the role of tokens as platform boundary
resources?
RQ2: How will these platform boundary resources influence the
development of blockchain platform ecosystems?
22. 27
Case - Ethereum
• Ethereum was launched by Vitalik Buterin in 2015
• Vitalik was a former bitcoin developer who created
Ethereum with the idea in mind to extend the
functionality of the blockchain (single purpose
blockchain)
• Ethereum constitutes a multipurpose platform that
consists of a blockchain and decentralized applications
(so-called DAPPs) that run on top of this blockchain
• Turing-complete programming language
• Smart contracts stipulate conditions for an application
to run (i.e. applications can be fully automated)
• Tokens with multiple functionalities
23. 28
Case – Ethereum Architecture
At the basis of Ethereum are 2nd layer protocols that can
be used to develop and run a variety of decentralized
applications known as DAPPs
24. 29
Case – Ethereum Architecture
The interactions between different layers and actors of
the platform are governed by tokens that are fungible (i.e.
they are interoperable)
• Ether = Ethereum's native token
• App tokens: e.g. IDEX, Bancor, Augur, Numerai, Cryptokitties
29. 36
Ethereum‘s Growing Strategy
• July 2014/ Ethereum conducted an ICO
• 42-day pre-sale in which 60,102,216 Ether tokens were
sold to investors with a corresponding value of US$
18,439,086.
• July 2014 – May 2015/ Ethereum created
several endowment pools and programs
to reward early platform contributors
• e.g. DEVGrants Programm (US$ 1000 to US$10000 to
support Ethereum projects)
• e.g. Olympic testnet (25.000 Ether for users who managed
to break the network)
• July 2015/ Etherum Frontier Release
• Ethereum created its first mining network (under the
Frontier release) that allowed users to earn tokens by
providing their computing power to execute smart
contracts and to secure the network.
30. 37
• February 2016/ Ethereum Homestead
Release
• Ethereum introduces ist ERC20 token-standard which
allows the broader masses to create their own DAPPs on
the network
• Feb. – June 2017/ Several Exchanges
adopt Ethereum
• eToro and AVATrade list Ether on their exchange
• The Ether prices climbs to US$ 400 on June 2017 (i.e.
+5001% since Jannuary 2017)
• June 2017/ Broad adoption of Ethereum
ERC20 token standard
• e.g. Brave manages to collect US$ 35 million for its
Ethereum-based webbrowser.
• e.g. Bancor manages to $135 million worth of Ether to built
a decentralized market maker
Ethereum‘s Scaling Strategy
31. 38
• January 2018/ Ethereum hits all-time high
• 13.000% increase in value since Jannury 2017
• Sept 2018/ Ethereum continues to grow
despite price decreases
• As of 22 Sept 2018 Ethereum has 1901 DAPPs
• >40 mill unique adresses
• >11.000 daily active users per day
• >480.000 transactions per day
Ethereum‘s Scaling Strategy
42. 50
RQ2: How will these platform
boundary resources influence the
development of blockchain
platform ecosystems?
43. 51
Tokens as new kind of platform participation
structures
• The relationship between the platform owner and third-party
developers is partly reversed since developers can participate
in the platforms success through equity.
• New more symmetric partictipation structures (Nassim
Nicholas Taleb, 2017)
• Result: Users are remunerated in accordance to the actual work
they are doing or the risk they are bearing (i.e. more
meritocracy)
• Better alignment of incentives between different actors of the
ecosystem
Future Research: How can these participation
structures be used to strategically govern
platform innovation?
44. 52
Tokens as a way to leverage new kinds of network
effects
• Traditional network effects
set in as the application
value of the platform
increases.
• Token network effects
denote a new kind of
network effect that bridges
the low user participation
at the begininning of the
platform creation.
Future Research: How must tokens be designed to create these
new kind of token-network effects? How do the different kind of
network effects created through tokens interact with each other?
45. 53
Tokens as a way to create self-governing and
organic ecosystems
• Tokens introduce a new form of clan control (clan control =
shared and values and beliefs)
• Ethereum Improvement Proposals (EIPs) allow users to come
up with their own token standards. Hence they can formulate
their norms in the form of code.
• Hence, tokens allow a much more democratic process in
defining community norms thereby resulting in truly self-
governing ecosystems
• Interoperability of tokens allow more ad-hoc and organic
evolvement of new communities
Future Research: How effective are tokens as new forms of
clan control to facilitate platform control and innovation?
new rules
old rules
46. 54
Theoretical and Practical Contribution
Theoretical contribution:
Practical contribution:
• Exploring the multifacted role of token exchanges as boundary
resources
• Exploring how boundary resources associated with tokens
influence the development of blockchain platform ecosystems
• Providing a deeper understanding on how platform owners
and developers might apply token-exchanges more
deliberately for creating and scaling their ecosystem
47. 55
The Role of Tokens as Boundary
Resources to Govern Blockchain
Ecosystems
Contact:
Nikolaus Lipusch
lipusch.nikolaus@gmail.com
Editor's Notes
Tokens have certain properties that make them suitable for experimentation
Bound to certain privileges
Contingent upon certain behaviours
They only work in specific contexts
With the advent of the blockchain technology tokens experienced a revival in the form of so-called crypto tokens
Hash is the reference value of the previous block
PUBLIC Blockchains are self-governed and open-sourced. The data on a public Blockchain can be added and edited by anyone. No one can delete or erase that data and even if the participants leave the public Blockchain network, the data will stay on the network.
Boundary Resources: The software tools and regulations that serve as the interface for the arm'slength relationship between the platform owner and the application developer
First, the new SDK provided a development environment, a graphical user interface builder, a comprehensive analysis tool for the assessment of application performance and an iPhone simulator tool that facilitated application testing
Second, Apple also provided a set of APIs for core services such as collections, address book, networking, file access, core location, net services, threading and URL utilities.
Apple developed an application review process to secure the platform. This review process entailed an assessment of every App Store application by an Apple review team.
As an example, in the push notification case, Apple filed a patent application to protect the intellectual property around the released API.
For instance, Apple released the In-app purchase API and managed to build a source of income by charging 30% of the purchase each time contents were sold through an application in the appstore.
Boundary Resources: The software tools and regulations that serve as the interface for the arm'slength relationship between the platform owner and the application developer
First, the new SDK provided a development environment, a graphical user interface builder, a comprehensive analysis tool for the assessment of application performance and an iPhone simulator tool that facilitated application testing
Second, Apple also provided a set of APIs for core services such as collections, address book, networking, file access, core location, net services, threading and URL utilities.
Apple developed an application review process to secure the platform. This review process entailed an assessment of every App Store application by an Apple review team.
As an example, in the push notification case, Apple filed a patent application to protect the intellectual property around the released API.
For instance, Apple released the In-app purchase API and managed to build a source of income by charging 30% of the purchase each time contents were sold through an application in the appstore.
Ether was thereby used to pay rewards to nodes that contribute to reaching consensus by mining blocks as well as to pay transaction fees.
Ether was thereby used to pay rewards to nodes that contribute to reaching consensus by mining blocks as well as to pay transaction fees.
Ether was thereby used to pay rewards to nodes that contribute to reaching consensus by mining blocks as well as to pay transaction fees.
Ether was thereby used to pay rewards to nodes that contribute to reaching consensus by mining blocks as well as to pay transaction fees.
token bonding curves, which constitute token price functions that gradually increase over time
This has some important implications for platform development as it introduces users to opportunity costs that they must bear in order to participate in the platform ecosystem.
the ERC20 token standard forces compatibility among tokens by ensuring that all tokens have the same functions, methods and take the same arguments. This saves developers and users of tokens considerable time and money. Thus, users who want to engage in a transaction (either to trade tokens or to consume an application) theoretically do not need to communicate the terms and conditions of the transaction as these are inscribed in the token contract that is defined by the token standard. By doing so, tokens introduce a means of implicit and more efficient communication that replaces more fractured and asynchronous types of communication such as e-mail, slack channels etc.
This mechanism is in stark contrast to current platform participation structures that are often asymmetric, meaning that platform actors are not remunerated in a meritocratic and fair way. Thus, the parties usually profiting the most are not the real innovators (i.e. the developers), but those that commercialize the innovations (i.e. the platform owners).
but they encourage early adoption of that token at a higher pace. The main reason for this is that early adopters face a higher ownership upside potential due to the low price of the token, which allows them to profit to a higher extent from token price increases as compared to lagging adopters. This leads to “a race to be in” that triggers more rapid user adoption and new kinds of network effects.
but they encourage early adoption of that token at a higher pace. The main reason for this is that early adopters face a higher ownership upside potential due to the low price of the token, which allows them to profit to a higher extent from token price increases as compared to lagging adopters. This leads to “a race to be in” that triggers more rapid user adoption and new kinds of network effects.
A more direct and explicit way of clan control since users can formulate their norms explicitly by writing them down. Previously clan control was an emergent concept that developed implicitly through enacted behavior of indviduals