Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/284391 
Authors: 
Year of Publication: 
2024
Series/Report no.: 
IU Discussion Papers - Business & Management No. 2 (February 2024)
Publisher: 
IU Internationale Hochschule, Erfurt
Abstract: 
The existence of bitcoins and NFTs, and perhaps also the possibility of founding a company on a blockchain network, should have gotten around after 15 years. At present, software engineers continue to work on solutions in Web3, new business activities such as coin minting, blockchain installations and the creation of Web3-related off-chain and on-chain financial products are constantly being recorded. Major law firms are making all this legally secure for banks, after most extensive legal constructions have been established, lately with Regulation (EU) 2023/1114. In view of all this, it is very surprising that there is still no precise definition of "tokens" from a business and application-oriented perspective. As it stands, the academic field is dominated by computer scientists and, after a few legal conflicts, also by lawyers. The treatment in business and management theory is falling behind. The new Web3 technologies offer considerable potential for companies in all sectors. In order to exploit this potential, the creative options of the new technology must be systematically explored and requirements such as quality and legal certainty must be met when putting them into practice. This requires precise definitions. This discussion paper examines the relevant differentiation criteria of tokens in order to then propose a more precise, selective differentiation of token classes.
Subjects: 
Web3
Distributed Ledger Technologies
Blockchain
Tokenization
Currency Token
Asset Token
Security Token
Utility Token
JEL: 
G30
K12
K22
L14
L15
L26
M13
O17
O32
O33
O35
Document Type: 
Working Paper

Files in This Item:
File
Size
249.13 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.