It is important to distinguish between cryptocurrency, blockchain, and cryptoassets. The latter means tokenisation and the ability to split the functions of exchange and utility. Why Blockchain Isn’t a Revolution , which means that the blockchain itself is not a revolution, but cryptoeconomics application might still be.
Illiquidity matters. Investors are generally willing to pay higher prices for more
liquid assets than for otherwise similar illiquid assets. While this proposition is widely
accepted, there is substantial debate about how to measure illiquidity and to incorporate it
into value. In this paper, we began by relating illiquidity to transactions costs;
It is important to distinguish between cryptocurrency, blockchain, and cryptoassets. The latter means tokenisation and the ability to split the functions of exchange and utility. [Why Blockchain Isn’t a Revolution](http://knowledge.wharton.upenn.edu/article/blockchain-isnt-revolution/) , which means that the blockchain itself is not a revolution, but cryptoeconomics application might still be.
- a very hyped and potentially explosive application!!! [The Security Token Thesis](https://hackernoon.com/the-security-token-thesis-4c5904761063)
- [What if BitTorrent had a token?](https://medium.com/@jbackus/what-if-bittorrent-had-a-token-13d62a590aa7) and the related [game theory of BitTorrent](https://knowen-production.s3.amazonaws.com/uploads/attachment/file/1998/bittorrent%2Bgame%2Btheory.pdf) by John Backus
significant improvements might be expected
## projects
- [Introducing Harbor](https://medium.com/harborhq/introducing-harbor-90ffc2b49a21)
- [Polymath enables trillions of dollars of securities to migrate to the blockchain](https://www.polymath.network/)
## Thoughts
[Marketability and Value: Measuring the Illiquidity Discount Aswath Damodaran](http://people.stern.nyu.edu/adamodar/pdfiles/papers/liquidity.pdf)
> Illiquidity matters. Investors are generally willing to pay higher prices for more
> liquid assets than for otherwise similar illiquid assets. While this proposition is widely
> accepted, there is substantial debate about how to measure illiquidity and to incorporate it
> into value. In this paper, we began by relating illiquidity to transactions costs;