Tokens in ICOs serve as an incentive layer on decentralized networks, allowing for trustless transactions without a central authority.

The most valuable applications of blockchain technology are those where parties do not trust each other and seek to create a trustless system, which is not applicable to many traditional businesses.

Not every startup will need to issue a token; traditional trust-based relationships will always exist alongside tokenized systems.

Blockchains solve not just technical problems but also political ones by enabling parties that don't fully trust each other to agree on transactions in a neutral manner.

Airbnb is not a suitable candidate for a token model because it relies on trust in a central intermediary, which contradicts the need for a decentralized trustless system.

Cryptocurrencies allow for trustless transactions between humans without the need for a government or corporation to mediate.

Blockchain technology aims to create a decentralized database, but we have yet to fully achieve that goal.

Tokens and blockchain technology serve as infrastructure for exchanging and transacting value, allowing for programmatic value exchange.

Tokens are essential for the functionality of certain networks, as they incentivize users to participate in the ecosystem, such as storing and sharing files.