Tabitha signed up for a new credit card that offers reward miles for every purchase. Tabitha plans to make as many purchases as she can so that she can accumulate enough miles to go on a trip over spring break. Such an approach is an example of

The token economy or tokenomics, seeks the creation of an economic ecosystem supported by tokens. An ecosystem where everything is sustained by the different possible interactions with these tokens. In this way, the ecosystem consists exclusively of tokens that represent real assets.

This asset can be anything. A work of art, a book, a blog article, a song, a scientific study, a real estate property, a car and even financial assets to which we are already accustomed. The true power of the token economy is that it allows us to move any type of value from the real world to the virtual world. But not only that, the token economy allows us to decentralize its control.

But the development of this new concept of economy involves the construction of blockchain technology. And the reason for this is very simple: tokens may exist, but without the blockchain there is no token economy. This is because the blockchain is the means to achieve the necessary decentralization demanded by the token economy.