Against Tokens: Part II

This is adapted from a Reddit thread (shout out to my homeboys in /r/ethereum). It is a follow-on from an earlier piece, Against Tokens. Warning: this blog post is long. Today brings us a paper, written by Coin Center and Debevoise & Plimpton, and sponsored by Coinbase, USV, Coin Center and ConsenSys, which explores the question of whether tokens sold on a blockchain are or are not securities under the test of Howey v SEC.    Given what we know of the paper’s sponsors, the paper’s unsurprising conclusion is: An appropriately designed Blockchain Token that consists of rights and does not include…

The real game: networks

From a professional friend and personal hero: “Without networks, we can’t go anywhere… Getting (TCP-)IP to all of the villages in Africa is probably a much more important goal than a bit more crypto… the real game is in getting packets to people. Once we get the packets there, we can do good stuff with crypto, but it’s just another tool.” –Ian Grigg