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59,489
GBP
50,780
BTC
USD
63,208
EUR
59,489
GBP
50,780
BTC
USD
63,208
EUR
59,489
GBP
50,780
BTC
USD
63,208
EUR
59,489
GBP
50,780
BTC
USD
63,208
EUR
59,489
GBP
50,780
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Blockchain Influencer Predicts the Failure of 99% Tokens

Blockchain Influencer Predicts the Failure of 99% Tokens


London-based author and blockchain influencer, Thomas Power, believes that most brands will start issuing tokens to incentivise clients. He also states that 99% of the currently existing 5,000 tokens will fail. He expressed these views during an interview with a European crypto lending company, HODL Finance.

Founded by the shareholders of a peer-to-peer lending platform, called Savy, HODL Finance offers loans backed by cryptocurrencies and digital assets, to customers all over the world.

A self-titled “digital historian” with 38 years of experience in technology, Thomas Power has raised and sold £1.2 billion of capital and assets throughout his career. He is considered to be one of the most influential figures in the blockchain industry. As a matter of fact, he is a board member of a number of blockchain-related companies, such as Teamblockchain Ltd and BICRA. In addition to that, he co-authored a book on ICOs, cryptocurrencies and tokenomics.

Attention Tokens – the Next Step in Customer Loyalty Programmes

Power has coined the term ‘attention tokens’. He believes that Facebook will be the first company to introduce this type of reward. In his view, users will receive FaceCoin tokens for likes, shares and comments. They will be able to use these tokens in the Facebook Marketplace to buy products and services.

Other companies will also join the blockchain current and offer tokens as rewards for low CO2 emissions. Thus, the fight against climate change will help popularise cryptocurrencies.

Regulation Critical for the Future of Tokenisation

Thomas Power HODL Finance interviewThe blockchain influencer believes that the future of tokenisation is really bright, but trust and regulation are definitely the biggest challenges.

It is a widely known fact that 80 percent of ICOs are considered to be fake or fraudulent. Therefore investors are already demanding regulation. A regulation requires scrutiny and scrutiny drives confidence. Startups seek capital, investors seek due diligence, thus regulation is critical, he said in the interview with HODL Finance.

Most Crypto Startups Don’t Understand the Importance of Regulation

The interviewer suggested that there is a lack of uniform regulation at global level. Without getting lawyers and independent board members involved, the crypto world will continue to harbour bad actors. Power agreed, stating that the fact that most startups don’t understand this, is one of the key problems.

Only the Top 20 Tokens Are Liquid

The interview also tackled the issue of low liquidity, one of the key claims of crypto skeptics. Power agreed with this criticism of digital assets. He claims that only 50 out of 5,000 tokens will survive on the market. And liquidity will be possible only in the top 20. Many of the survivors will merge, roll up, acquire one another for talent, clients and token capital, Power explained.

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