Sigmund Freud coined the term “collaterals”, which are superficial associations our unconscious mind uses to transform our real wishes into the acceptable dream-wish. If you want a violent revolution, your brain can transform it into the collateral and you can dream of an object fiercely revolving around its axis. “Collaterals” consists of allusions to the actual dream thoughts, which, considered schematically, correspond to displacements from the essential to the non-essential (S. Freud, The Interpretation of Dreams).
“Blockchain projects” predominantly are the very collaterals.
Blockchain is a technology utilized to make Bitcoin happen. It is a tool to create a decentralized community-driven cryptocurrency. If this technology is used for any other purposes, these other purposes have the collateralized, the non-essential association with Bitcoin. While it is a shop or a restaurant accepting Bitcoin that do have the essential link to Bitcoin as a currency.
Despite of this, almost all ICOs or other crypto related ventures are centered around “X on blockchain”. It seems that our real desire to transform the world is repressed and we have reduced ourselves to a dream-wish of a blockchain empowered ecosystem.
How many real life businesses ran a token sale to fund their operations? Virtually none. While they have considerably better use cases for tokenization. Businesses from all industries could raise money from token sales, fund their investment programs in a much more efficient way and pass their savings to tokenholders.
Tokens can be used as:
– Tickets, issued by transport companies,
– Store Cards, issued by retailers,
– Coupons, issued by restaurants,
– Prepaid cards, issued by telecom providers,
– And so on.
Raising funds directly from customers and having a non-financial liability, (i.e. an obligation to deliver goods or services rather than repay money with interest) would dramatically improve the financial position and operational capacity of the companies. Tokenholders, in their turn, will be able to get goods and services at a discount and store wealth in the real asset backed tokens, with liquid secondary markets.
This is where we should move on. This is a long run, but the first step is pretty easy. Let’s stop being focused on blockchain companies as somewhat “natural” for the crypto ecosystem. All businesses have to be looped in. Firstly in our mind. Then in the real world.Tags: bitcoin crypto economics