"The concept of a digital token is not obvious. It is a unit for exchange of value between two or more parties, but it is more than a transaction. It is a unit of value that binds a relationship. Digital tokens can take the form of smart contracts and be quite complex. They can take different forms under different conditions. They can be a commodity, a currency, a security, or all of those things. That is why there is some confusion and issues about how to regulate them. Tokens can also be an expression of trust. A token could be a credential that I use to assert something about myself. It can be used for digital identity. It can be certification of certain attributes such as age or place of residence or a credential proving that you earned a diploma. Tokens can get you access to different kind of services. They assert different forms of trust and value and can be dynamically updated."
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What exactly is a token?
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John Henry Clippinger
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