Op Ed: Could an Amazon Token Become a Viable Worldwide Cryptocurrency?

Combining the benefits of a utility-based cryptocurrency and a company that exhibits the characteristics of a power law network creates the perfect opportunity for a globally adopted cryptocurrency –– the Amazon Token. Amazon’s Full-Circle Economy In this hypothetical futuristic scenario, Amazon extends on the suite of products and services it provides customers in 2018 including: online shopping, physical grocery, web services, artificial intelligence, internet of things, video and music streaming, healthcare (in development) and banking (small business loans). For reference, Amazon ships to 100 countries and has separate retail websites…

Pantera Invests $3 Million in Sharing Economy Token Origin

It can be said the sharing economy brought the internet into the real world, helping it move real items rather than just information. On today’s web, though, if you want to rent out your camera or desk, you need a specific site for each one (think Airbnb, 99 Designs or DogVacay), and each site takes a hefty cut from every sale. The founders at Origin, however, envision a world where entrepreneurs would build specific interfaces for each business area, all of which would share one giant pool of customers to…

The Blockchain Token Velocity Problem

Kyle Samani is the co-founder and managing partner of Multicoin Capital, a new thesis-driven crypto fund that invests with a multi-year time horizon in blockchain tokens. Basically, all token pitches include a line that goes something like this: “There is a fixed supply of tokens. As demand for the token increases, so must the price.” This logic fails to take into account the velocity problem. In this post, I’ll explain the velocity problem by providing an in-depth example. Then I’ll examine mechanisms that reduce velocity. A high-velocity example Ticket fraud…

Tether Claims $31 Million Theft of USD Token by Hacker

The Tether Treasury wallet has been hacked, leading to the loss of $31 million in USDT, a crypto-token which pegs its value to the US dollar through an inflationary monetary policy. In an official announcement, the development team of Tether stated: “Yesterday, we discovered that funds were improperly removed from the Tether treasury wallet through malicious action by an external attacker. $30,950,010 USDT was removed from the Tether Treasury wallet on November 19, 2017 and sent to an unauthorized bitcoin address. As Tether is the issuer of the USDT managed…