The Token Engineering Process - Blockchain Futurist Conference 2018 - FansUnite

The Token Engineering Process - Blockchain Futurist Conference 2018 - FansUnite

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  Token Engineering “Show methe incentive and I’ll show you the outcome.” Charlie Munger
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  Matt Lockyer Background Full StackDeveloper Academia and University Lecturing Blockchain Solutions Consultant Currently Token Engineering Advisor - FansUnite.io Token Mechanism Team - Wireline.io Founder, Soloblock.solutions
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  Building blocks of digitalscarcity 3
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  https://blog.cofound.it/asset-tokenisation-a-primer-fbcc0393a944 4
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  Types of Cryptoassets Cryptoassets Storesof Value (MV = PQ) Utility Tokens (?) Security Tokens (DCF) Work Tokens Burn & Mint Discount Tokens StablecoinsCrypto Collectible (NFT) Proof of Service Access Control Signalling & Curation Governance https://medium.com/paratii/on-the-immaturity-of-tokenized-value-capture-mechanisms-1fde33f2bc8e https://goo.gl/cPXpdX - Dimitri De Jonghe - Decentralized Web Summit - Token Engineering Community 5
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  Designing networks with rewardsand punishments 6
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  1. Define the problem 7
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  Define the problem 1.Why is this network protocol being built? a. What objective(s) is it optimizing and/or maximizing for? b. What problem(s), immediate and real world, is the network addressing? 2. Who are the stakeholders? a. What do they want? What type of people are they? What do they know? b. What can/do they provide? Is it money? Is it work? Ideas? Creativity? 3. How could a stakeholder / adversary attack the network? 8
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  2. Evaluate mechanisms 9
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  Evaluate mechanisms 1. Usea series of constraints and questions a. Does the mechanism broadly address the problem(s)? b. Define pass / fail criteria, codifying outcomes for completeness 2. Any open ended questions (likely)? a. Does any mechanism solve these questions i.e. close the loop? b. Are there any attacks on these mechanisms? 3. Does the mechanism have a balanced incentive model? 10
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  Balanced Incentives -Bitcoin Example Intrinsic Subjective Positive Win block reward Belief: bitcoin is an amazing SOV that will change the world (increase in value) Negative Lose electricity $$$ Belief: attacking Bitcoin leads to fork making efforts worthless (decrease in value) 11
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  3. Simulate, verify, design 12
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  Simulate, verify, design 1.Are we adequately supported with tooling? a. Simulation entrants - IncentiveAI, Consensys, ??? 2. Verification of subjective vs. objective goals a. Best restaurants in NYC vs. 2 + 2 = 4 3. Lacking intrinsic measures for creative economy a. Nothing at stake problem b. What is the value of a photograph NOT being licensed on a network? 13
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  Example: Incentivized Data Provider 14
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  FansUnite - incentivizefans to provide accurate sports data 15
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  Thank You Questions?