Token creation: An alternative economy?

Nov 12, 2020
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           As we got used to a system and learn to live with it we start to forget that we aim for progress. Because we are engrossed with the idea of living in a world that is just what it has to be, but we are wrong. New technologies such as blockchain have shown us that we can have something better and that the usual economic system does need to be ameliorated and changed. Token creation has been raised as an alternative and a solution for the common issues our modern times' present lack of trust, lack of accessibility, lack of equality, and furthermore security.

What about the system we know?

           The Dictionary defines the economy as an efficient and reasonable administration of goods. Also as a science that studies the most effective methods to satisfy human material needs, through the use of scarce goods. Thus understood, as a reasonable and effective administration aimed at satisfying material needs in environments of scarcity, it seems clear that alternative economies cannot be thought of as alternatives to economics per se, but as in the case of cryptocurrencies what it does is open a gate to a different way to manage money while making it accessible for the population in a more equal manner even more during times of scarcity and uncertainty.

Even though many people based their beliefs on the system in the mere fact of it being capitalist or others, the truth is that digital coins or the crypto economy is not attached to any side and it can be used freely whatever system is applied independently of the country or even during a deep crisis. Because of the characteristics of the crypto economy, we can deduce that it runs parallels with the common system yet not interfering with it.

“The new vision for the economy is to allow people to reach a higher level of freedom and let it become egalitarian while providing security as never before.”

Like stocks and other higher-risk assets, bitcoin as well as other altcoins skyrocketed following unprecedented stimulus packages launched by governments and central banks in mid-March to mitigate the economic damage caused by the coronavirus. Cryptocurrency has soared by 80% since mid-March and it is all because it offers the potential for rapid gains and protection from inflation while they are immune to the impact of geopolitical tensions or government policy because of its decentralized nature. Unlike money issued by the central bank, miners competing to solve computer puzzles produce bitcoin and in the case of the tokenizing economy, tokens can be created for free with platforms like MintMe allowing people to trade and move the economy getting paid with a reliable cryptocurrency.

Token creation is in other words an alternative for people to get monetized by issuing their own sell and buy orders offering products and services or allowing people to purchase them as means of crowdfunding a project and trading with them in the market. The new vision for the economy is to allow people to reach a higher level of freedom and let it become egalitarian while providing security as never before (a high benefit of blockchain technology) because even though Cryptocurrencies have become the emergency exit in contexts of economic uncertainty is more than that, it is a new method that can elevate commerce to another level.

“Tokens that we create are meant to become a support for the modern system while providing us with more authorship and security, enhancing equality and mutual support.”

New marketplaces for example, already create their own means, their own digital coins to enhance trust within their ecosystem as well as buy and sell while earning bigger commissions, but the difference between creating tokens for free or tokenizing a project is the possibility of inviting a worldwide community to participate equally while becoming the principal issuer and managing it according to your own perception of the market's fluctuation in your favor and that of your clients.

More than an alternative, tokens that we create are meant to become a support for the modern system while providing us with more authorship and security, enhancing equality and mutual support.

Mary Schwartz