THE HISTORY OF TOKEN
What is a token?
A token can be anything we want and it can substitute or take the shape we wish, so long as it respects the value we assigned to it. The goal of a token is to be the means to represent things from the real world.
Tokens have existed for more than 10,000 years
Tokens have been with us a lot longer than you might think. Such a long time, that it revolutionized the way we lived thousands of years ago and made it easier.
Tokens were the very first economic revolution, circa 8,000 BC, in Sumer. It was thanks to the invention of tokens that we started counting and having control over our first personal belongings: oil, cereal, cattle... The first tokens were made of clay, usually 1-2 centimeters and round. They also had symbols representing their meaning.
Wolbie is a network good and, as such, has network effects. The Ethereum blockchain has the biggest network of users, which is one reason it has the highest value. Both acceptability and scarcity play a role in its value. The six network effects Wolbie will eventually have on the financial market. They are
1. Speculation – Every speculative dollar that trades in Wolbie increases the value.
2. Merchant Adoption – Every new merchant that accepts Wolbie increases the value of the network.
3. Consumer Adoption – Every time a new consumer can buy something with bitcoin the value increases.
4. Security/Incentives – As the speculators as well as merchant and consumer adoption raise the price, miners’& nodes INCENtives are increase.
5. Developer Mindshare – As the moat around bitcoin increases, so does the value.
6. Financialization – As more financial products, like options on cryptocurrency and insurance, get created, there is more value added to the network.