Field Note #29. On "Token as Killer App: Revisiting Srinivasan's 2017 Earn.com Piece"

Source: Balaji Srinivasan, "Thoughts on Tokens," avail. online (Oct. 31, 2017)

Some might consider these views on tokens by B. Srinivasan as “old hat” in a fetishized quest for argumentative novelty.  “Oh I’ve read that before,” was my stance too.  However, particularly during not just a crypto risk-off, but a sweeping multi-asset class drawdown, my humbler perspective is to revisit “vintage” arguments, as they very well might share the aging attribute of fine wine (or not, but a revisit is still warranted).

The Main Points (of personal interest):

• Tokens should be viewed as paid API keys
• Tokens are an important funding mechanism for startups to challenge the hegemony of big tech
• Tokens != tokenized equity
• Tokens reward early adopters, fusing the customer & the skin-in-the-game aligned investor

The Details.