As we explore the whole new world of the token economy, we'll find many new concepts and ideas. Some seem minor and some bigger.
One that seems major to me is the concept of public scrutiny of a company's (or maybe a project) developments.
This week we've seen this in action with some back-and-forth between public analysts and the company itself, when Bancor responded to some dissents on its model and ICO.
Emin Gur Sirer started with a
29-points Bancor takedown.
To which the company responded with a
point-by-point rebuttal.Then, Udi Wertheimer published his
Bancor Unchained: All your tokens are belong to us warning (albeit a bit late) to which the company granted an additional
ad-hoc response.
Whatever opinion you form on the Bancor protocol and project from the above articles, I think it's worth comparing this MO with the traditional "get yourself in a garage" startup model, especially with the latest "let's try to never get public" attitude that the latest unicorns are adopting.
In the token space, projects and companies are constantly being judged on their actual code and release schedule.
This is even more impactful than the traditional equity public markets, where analysis is often based solely on the companies' quarterly revenue figures.
It will be fascinating to see how much of the actual usage metrics will be open and how both companies and investors will adapt to this new world.
