Big thanks to António Chagas, Courtnay Guimaraes, Jose Rui Sousa, Joana Camilo!

Portugese translation available for free on Github

In December 2020 I decided to release the book Token Economy on Github under a non commercial creative commons licence for several reasons:

  • In some countries people had a hard time buying my book because of international sanctions or logistical challenges.

What…


How unique tokens with more attributes will unlock the Token Economy

Recently, I have been contacted by a number of media outlets asking me to give interviews or write about NFTs. The wording is always: “NFTs seem to be the new hot shit.” NFTs are definitely not new, but due to some recent events in the art world and beyond, mainstream media is finally moving past Bitcoin price reporting to the wide array of more interesting things we can represent with tokens — and in this particular case — with NFTs. But why the sudden hype? Here s brief summary of recent events:


The book Token Economy grew organically over the scope of 5 years, based on many micro-publications, and builds — among others — on the activities and educational blog posts of BlockchainHub Berlin which, back in 2015, was one of the first websites to explain the impact of blockchain networks and similar distributed ledgers to a general public. Due to the interdisciplinary nature of the book, and the broad scope of topic, it would not have been possible to write the book without the input and feedback of many people such as Valentin Kalinov, Peter Kaas, Alfred Taudes, Jakob Hackel, Krzysztof…


TLDR: This is a statement about plagiarism allegations, the recent turn of events, and an outlook on knowledge creation in the Internet Age.

In 2018 — after 16 years away from academia — I moved from Berlin back to Vienna to start building a research institute and help shape a new academic discipline of “Cryptoeconomics” at my Alma Mater, the Vienna University of Economics & Business. …


This is the first blog post in a series of future posts on the topic of parametric academic writing, to answer the question of when and how machines can replace scientists, or at least some of their work processes.

Photo cred: Mike MacKenzie - https://www.flickr.com/photos/mikemacmarketing/30212411048

As scientists we spend hours, sometimes days, just formatting and debugging our reference lists that are still inserted at the end of a static text, as if the Internet was never invented. …


New Book Chapters & Revised Content

TOKEN ECONOMY, Second Edition, Shermin Voshmgir, 2020

The first edition of Token Economy was released one year ago. The basic structure of the second edition of this book is the same as the first edition, with slightly updated content of existing chapters and four additional chapters: “User-Centric Identities,” “Privacy Tokens,” “Lending Tokens,” and How to Design a Token System.

The book is an attempt to summarize existing knowledge about blockchain networks and other distributed ledgers as the backbone of the Web3, and contextualize the socio-economic implications of the Web3 applications, from smart contracts, tokens, DAOs to the concepts of money, economics…


Read Part 1 here
This is a chapter from “
Token Economy,” Voshmgir, Shermin. 2019.
It is partially based of a journal article which was published by the author in 2017: Voshmgir, Shermin: “Disrupting governance with blockchains and smart contracts,”, Journal for Strategic Change.

Governance is the term that is colloquially used by many to describe the social consensus process over protocol evolution. It is a decision-making process that can happen either “off-chain” or “on-chain.” However, the governance process of a public blockchain network really consists of two parts. …


Read Part 2 here.
This is a chapter from “
Token Economy,” Voshmgir, Shermin. 2019.
It is partially based off a journal article which was published by the author in 2017: Voshmgir, Shermin: “Disrupting governance with blockchains and smart contracts,”, Journal for Strategic Change.

Institutional economics studies the role of formal or informal institutions — such as procedure, convention, arrangement, traditions and customs — in a socio-economic context. Since the emergence of the Internet many distributed Internet tribes have formed, like social media platforms, e-commerce platforms or knowledge platforms. Web3 networks introduce a new type of Internet-based institutional infrastructure that enables…


#tokenengineering #web3

This post has been revised on March 18th 2020. It is a sneak peak into one of three new chapters Token Economy (2nd edition) which will be released soon.

If you would like to tokenize your business or community and make it Web3 ready, how do you need to approach your token design? Which questions do you have to ask yourself? What know-how do you need in your team to be able to properly “design” or “engineer” these tokens? …


Summary, Recap & Outlook

This article was updated in Feb 2021 since the original working paper from 2019 was finalised and updated in 2020 (final version). The final version contains two new sections (4) Institutional Economics Perspective and (10.3.) Incomplete Contracts as well as minor updates in the text.

Michael Zargham and I recently published this pre-print of our working paper on the Foundations of Cryptoeconomic Systems. We explore the foundational aspects of cryptoeconomic systems and outline further arches of applied and theoretical research that we think are necessary to do justice to the nature of these complex cryptoeconomic systems.

Source: https://epub.wu.ac.at/7309/8/Foundations%20of%20Cryptoeconomic%20Systems.pdf

In the paper we…

Shermin Voshmgir

Author of ‘Token Economy’ https://amzn.to/2W7lQ8h// Founder @tokenkitchen @blockchainhub & @crypto3conomics// Artist @kamikat.se

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