Analysis of Stakeholders, Tokens & Governance Processes

The aim of this post is to explain and summarize — in a nutshell — the activities around TEC (Token Engineering Commons) — their goals, their mechanisms, and the co-creation process they are currently going through to collectively design the many governance parameters of their future DAO. Due to the complexities — however — this post it is still a TLDR. It took me a while to foster though their massive online documentation and understand the lingo they created for describing their stakeholders, processes, tokens, etc. and also understand the novel governance primitives they are using. I hope that this…

Fractional ownership & beyond

The following text has been adapted from a chapter of the book Token Economy

Last week I was invited to speak at a conference on tokenizing the real estate industry. The focus was mostly on the tokenization of property rights and the potential of creating unique digital representatives (NFTs) replacing entire real estate back office management with smart contracts. However, once land registries are settled by some kind of distributed ledger and property titles can be tokenised, a complex set of other rights attached to these property rights can also be tokenised, such as voting rights, access rights, managements rights…

Finished and upcoming translations

Thanks to the collaborative effort of so many volunteers the Spanish version has been finalized and is now fully available online on Github. The Farsi version is also in the final stages and partially online, and will be fully available within the next couple of weeks. The full text of the Polish version is also online, but some graphics and citations have not yet been translated yet since the original translator had to stop due to personal circumstances. …

Sample Chapter of Upcoming Book

This is a sneak peak into my upcoming book with the focus on Token Economy Use Cases where I will be on analysing use cases of purpose-driven tokens that incentivise individual action towards a public good. It will be practical guide to a wide array of DAOs and public goods that are steered and maintained by purpose-driven tokens. The aim is to describe and analyse existing use cases and identify common patters towards the economic engineering of these token systems as a means to create alternative economic systems that are more inclusive and sustainable. I will be publishing some draft…

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.
  • Some people could not afford to buy the book.
  • Furthermore, the content of the book is subject to continuous change and I wanted to open source the future iterations of the book. Maybe some people could add code contributions to the theoretical examples I thought. Maybe some people would want to translate at least parts of the book.


How unique tokens with more attributes will unlock the Token Economy

The follwing text has been adapted from a chapter of the book 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? …

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 -

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…

Shermin Voshmgir

Author of ‘Token Economy’ Founder @tokenkitchen @blockchainhub & @crypto3conomics// Artist

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