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Company rebrands healthcare business as a strategic enablerSPARTANBURG, S.C., Nov. 1, 2023 /PRNewswire/ -- Today, global diversified manufacturer

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One distributor — McKesson — told her it would transport ... to ensure they can also stockpile supply.Mark Cuban Cost Plus Drug Company has wholesale models to increase access to medicines — brand name, as well as generics. These days, Bray says ...

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Kidney

Monkey

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Kaiser Permanente

Medicine

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greenqueen

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Leadership

Transition

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LinkedIn

Reuters

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Mckesson Corp

Pipeline

About Exscientia Exscientia is an AI-driven precision medicine company committed to discovering, designing and developing the best possible drugs in the fastest and most effective manner.

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McKesson Corp provides medicines, pharmaceutical supplies, information and care management products and services across the healthcare industry. It operates with two segments namely McKesson Distribution Solutions and McKesson Technology Solutions.

McKesson Corp (MCK)

Fidelity International

Get the most recent info and news about McKesson on HackerNoon, where 10k+ technologists publish stories for 4M+ monthly readers.

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions, International, and Medical-Surgical Solutions. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products. This segment provides practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices; and solutions for life sciences companies, including offering multiple distribution channels and clinical trial access to specific patient populations through its network of oncology physicians. The segment also sells financial, operational and clinical solutions to pharmacies; and offers consulting, outsourcing, and other services. The Prescription Technology Solutions segment operates in the healthcare delivery system to connect pharmacies, providers, payers, and biopharma for next-generation patient access and adherence solutions. The International segment provides drug distribution services, specialty pharmacy, and retail and infusion care services. The Medical-Surgical Solutions segment distributes medical-surgical supplies and provides logistics and other services to healthcare providers. McKesson Corporation was founded in 1833 and is headquartered in Irving, Texas.

McKesson

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The creator economy, emerging online trends, and new crypto economies are pioneering more opportunities for creators to capitalize. Various platforms, protocols, and digital marketplaces are all competing for the attention of users and the creativity they provide. This is spearheading a high level of independence and entrepreneurial mindset, especially within the younger digital-native Gen Z generation. Crypto economies are shaping the future of work for the next generations of creator economy participants. There is now a variety of “to-earn” models impacting the way users create, consume, play, learn, socialize and identify themselves. While all of the models have the underlying factor of ownership as a well-known driver behind the emerging economies, the main purpose of all models is to help users monetize by converting human input into capital. “It is the democratization of economic empowerment on a scale we have not previously witnessed”, as Stephen McKeon begins to explain the future of work “You will probably work for a protocol someday.” Play-to-earn - Players own the game Play-to-earn business models for games have exploded and are the first well-known “to-earn” concept that has shaken up the crypto economy. The most played games that have blown up in the crypto scene include: Axie Infinity, Alien Worlds, RONIN, Splinterlands Hive, Bomb Crypto, Sunflower Farmers, Upland, DeFi Kingdoms and . more Gamers can “earn” the in-game currency or receive in-game assets by engaging and participating in the in-game economy, while also having ownership of their in-game assets. Players are able to “own” and “earn” anything that has value within the game, such as the land, the characters, the skins and in-game currencies. It is more of an economy than a traditional game. The more players play, the more value is derived in the use of the assets or tokens within the game. The monetization opportunity motivates the players, whether it's a native token, an existing cryptocurrency, or NFT that is being earned. For the first time, game developers are uncovering a new form of relationship with the players of their game. Developers are forming a partnership with their players, as developers need to design play-to-earn economies that truly make players interested to spend time within the game and make them want to hold valuable assets and distribute them in trading. Developers can benefit from transactions within the game, value growth of their tokens, or even by displaying ads to players. The key factor is attention. As long as players spend a lot of time, the developers will be able to make their profits while also empowering their players. Move-to-earn The next trending “to-earn” model that has made noise within new crypto economies is the “move-to-earn” model that is incentivising people to monetize their health and sports activities, by moving around to earn tokens. Instead of users participating in games to earn money, they can participate through physical activities, such as jogging, to earn. This is made possible through collecting data and body activity, whether through a smartwatch or smartphone and using this to determine the conversion for in-app assets. Arguably the first popular game playing with the concept of incentivizing movement was Pokèmon Go, which required users to have to move outside to various places to capture Pokémons through GPS tracking and augmented reality within their phones. had even shown that Pokémon Go made people walk 2,000 more steps on average. Studies Through crypto economies, users are able to actually monetize their movement. It would be somewhat analogous to Pokèmon Go giving users full ownership of the Pokémons in the form of NFTs, which they could then trade to earn. , a project founded in 2018, was one of the first applications that paid its users digital currency to exercise. There are other popular crypto fitness projects that have showcased the growing interest in walking, jogging, or running to earn. One example is , where players can collect digital pets and earn XP as they move, which is required to further nurture, battle and evolve their pets for increased value. Another well-known project is , where many users have shared their success cases, such as earning up to . SweatCoin Genopets StepN $357 from walking in a day is a next upcoming fitness project that is creating a gamified metaverse for the fitness economy. FitFi and “move2earn” combine both the fitness and gaming industry, having physical experiences connected to digital experiences within the metaverse through NFTs and geo-location, including AR for immersion. The Step App has multiple token emissions with FITFI, a governance token, and KCAL, the in-game token being earned. Unlike STEPN and Sweat Coin, Step App has also announced a plan to build a software development kit that provides others with tools to build within its metaverse. The Step App has also announced a “dance-to-earn” partnership with festival. Step App UNTOLD Overall, the “move-to-earn” model often requires an upfront investment by purchasing an NFT sneaker that is required and used to track the movement and earning potential. There are also other ways for users to leverage the to-earn model cheaper by renting the NFT sneakers and profit-sharing the outcome between other players. More concepts around health and gamification are still developing, such as meditate-to-earn or sleep-to-earn. A larger interest here is to gather health data and enable participants to monetize their own data. Create-to-earn The Creator Economy boom is continuously growing with an estimated market size (as of May 2021). The creator economy encompasses content creators, curators, bloggers, videographers, vloggers, influencers and any other type of creation around content that is monetized directly or indirectly on platforms that distribute it to communities. $104.2B Audiences and users on platforms, especially social media have grown rapidly, with more than half of the world now using social media and alone 424 million new users coming online within the last 12 months. This gives creators an even bigger opportunity to reach more people and monetize their content or creativity. However, until now there has been a sub-optimal setup on platforms for creators, as Mario Gabriele explained: (58.4%) 4.62 billion people “Top creators often produce far more value for the platform on which they operate than they can capture.” Game developers contribute on platforms like Roblox by creating virtual experiences for their player communities, creators providing content daily for entertaining communities on YouTube, Twitter, Instagram, Facebook, Twitch and TikTok - so many platforms are leveraging creators who bring attention to them and are able to monetize this attention through advertisers. Yet the cut of ad revenue share or profit share the creators receive is small and creators are often forced to turn to sponsorships or ambassadorships off-platform to really make a living. Crypto economies are now developing incentives and new opportunities for creators to earn income through creative labor. There is especially one type of content that is interesting when looking into the “create-to-earn” model. It is word-of-mouth content. This is because it is a type of user-generated content (UGC) that is about brands, mainly product/project recommendations and provides interest for advertisers to pay creators directly for using the content instead of non-converting ads. has developed a tokenized monetization model to reward creators for authentic recommendations and enable advertisers to pay into the system to utilize and boost the content of their brands. This is made possible through the decentralized WOM campaign manager that lets advertisers discover their brand fans, run campaigns with their content, or showcase the recommendations in their websites for social proof. The protocol can be integrated into any website, platform, or app and is currently live in the , known as TikTok for web3-related videos. WOM Protocol BULLZ app Other projects incentivizing content creation include: , where users can upload music tracks, curate playlists and earn AUDIO tokens for traction and even , who announced that it's working on expanding its Community Points crypto token rewards initiative to reward participants in subreddits with tokens that can be used to pay for membership, tipping, and badges in the Reddit app. Audius Reddit Judge-to-earn / Rate-to-earn / Vote-to-earn Judge-to-earn, rate-to-earn or vote-to-earn are monetization models emerging through the need of qualitative information when coordinating larger decentralized networks. The judgment tasks can include curation, risk assessment, dispute resolution, appraisal, reputation and any other tasks that are subjective, where people serve as judges but in a mass can provide a comparatively objective output. As Stephen McKeon mentioned, “we will see the rise of subjective oracles”, especially as smart contracts will need soft information that can only be delivered through the judgment of people. Emerging projects encompassing the application of judge/rate/vote-to-earn: -  Decentralized governance or dispute resolution: , , , Aragon UMA Protocol Kleros Bribe -  Curation: , where audiences can watch and rate content for a quick quality check to help filter out valuable product or project recommendations, and and working on decentralized curation for NFTs. WOM Protocol’s WOM Authenticator App SuperRare JPG -  Contribution/Participation rewards: Coordinape -  Subjective appraisal: for peer-prediction models on NFT valuation. Upshot Watch-to-earn Another well-known monetization opportunity is the “watch-to-earn” model, that rewards users for their attention, whether it is watching Youtube, such as which goes as far as unlocking further content when users have earned enough of the dedicated tokens, or earning by watching ads, such as . In addition, has announced its focus on “watch-to-earn” rewards for its 105 million users. Xcad Network Brave rewards Coub Learn-to-earn The concept of incentivizing people to learn is a new paradigm shift away from the traditional education business model that was predominantly “pay-to-learn”, where students had to cover the education costs. However, a LinkedIn Workplace Learning report showed that “46% of L&D leaders said upskilling or reskilling was a top focus area this year”. This is arguably coming up as new innovations and skills are fueling the need to up-skill labor and in some cases even unlearn previous methods that are just outdated over time. recent More larger corporations are offering their courses or onboarding to their tools for free. For example Google, having their whole suite of courses available to anyone willing to learn.  “Learn digital for free of cost.” - Is their tagline for promoting their courses. Many students were motivated to learn with the incentive of being attractive in the job market and potentially getting a paid job. The crypto industry is expanding the concept by incentivizing learning in a new “learn-to-earn” model that gives the student more “skin in the game” when they actually get to own part of the value they provide by learning something new. This is analogous to Google giving you a few shares of stock for learning how to use Google Analytics. As Seth Godin has once shared: “the internet is the greatest self-teaching resource ever developed, but few take advantage of it because it doesn't come with a motor.” The “learn to earn” model provides this motor through monetary incentives that are clearly connected to required participation or actions. Crypto protocols are willing to directly sponsor the learning and onboarding process to their technologies as they are in need of talent and overall proving a product market fit of users who really use their protocol. is one example of a project that helps users get rewarded when finishing specific tasks of various protocols/projects. By rewarding users to learn new skills and onboard protocols of which they receive a part of ownership, the protocol also increases in value by growing their network, a win-win for both parties. Now even exchanges and price-tracking services are looking into facilitating “learn-to-earn” by partnering with crypto projects, such as , , , and many more. RabbitHole Coinmarketcap Coinbase KuCoin In addition, Animoca Brands announced its plan to add education to its multibillion-dollar NFT and gaming business: “As the crypto ecosystem continues to implement new ways to earn rewards, Siu said he hopes to drive the teacher economy with a “learn-to-earn” or “teach-to-earn” model, so both teachers’ and students’ time can be rewarded in the form of a token or cash.” - This also shows an interest in finding a way to reward educators, not just the students. source Wear-to-earn With the rise of metaverses and world shifts of physical to digital, the global fashion sector will not be spared. Many fashion brands such as Gucci, Ray-Ban, Louis Vuitton, Nike, Adidas are already moving into the NFT space introducing virtual wearables. Soon, users will be able to leverage digital fashion in virtual worlds, or in real-life through augmented reality. 3-trillion dollars Wearing or using NFTs within those environments is becoming an upcoming monetization model to provide further utility to NFTs. AKINGS rewards NFT holders every time they “wear” their fit in virtual worlds or in online games. This could unlock a future where brands will send users an airdrop of their virtual currencies, or offer power-ups, or new limited editions, for wearing their skins or digital collectibles. AKINGS Future monetization Digital technologies combined with crypto economies are reshaping the future of work. It looks like we will see a multi-currency future within the gig economy that empowers people to do various tasks and earn. Whether there will still be people working for only one organization is probably up to individual preferences but the opportunities are there to leverage multiple income streams. All of the “to-earn” models should be looked at in depth and valid questions to ask are: Why should those actions be rewarded financially? There needs to be a clear value system to have a feasible model. Who is actually paying into the system? Or “ where is the money coming from?” There needs to be a clear “employer” to have a sustainable model. Interestingly the “to-earn” models have started from a gaming environment and as Chris Dixon famously wrote, “the next big thing starts out looking like a toy.” Are you ready to play with the new ideas of making money?

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This is a series on secondary market liquidity for digital securities (or security tokens). In this post, I will focus on issuing digital securities on the Stellar blockchain, leveraging Stellar’s internal decentralized exchange (DEX) for liquidity, and the possible legal implications thereof. Almost 600 years ago, Johannes Gutenberg invented the printing press. An invention that caused immense economic, political and religious upheaval in Western and Central Europe — his invention allowed ideas and concepts to reach larger audiences and spread more easily. In modern times, we would say that Gutenberg effectively ‘disrupted’ human communication. In the following 300 years, ideas and printed texts raged through Europe without a regulatory framework to support them. Causing many disputes, debates (and probably physical fights) over ownership of written content, business ideas, and experiments. The printing press It was no earlier than 1710 that the first copyright act passed in Great Britain, in the Statute of Anne — This was the first statute to provide copyrights regulated by governments instead of private entities. Numerous historical examples have displayed the gap between technology and regulation. Regulators simply can’t keep up with the pace of technological inventions. Naturally, as we invent more rapidly, the gap between inventions and regulations grows larger and deeper. That being said, I want to emphasize that I am not trying to roast the regulators and law-creators; I do understand that these law-creating processes take a lot of time and resources. Exploring Secondary Market Liquidity for Digital Securities I will rather focus the narrative on digital securities (also referred to as ), and more specifically on — something (still prone to regulatory uncertainty) everyone involved in the digital security industry is anticipating for. If you are new to the concept of digital securities, I would advise you to read by or my earlier which puts the concepts into perspective with regards to the “blockchain industry” in general. security tokens secondary market liquidity this post Stephen McKeon post Hopefully, this series will help issuers, investors, legal parties, exchanges, software providers, and financial institutions to better comprehend what must happen to realize our collective dream: frictionless and democratized finance. Issuing a Digital Security on Stellar Stellar’s protocol proves to be valuable with regards to scalability, programmable flexibility, and security in comparison to other blockchain protocols. Furthermore, the Stellar protocol provides a user-friendly environment to issue digital securities. Read more about those perceived benefits in this post. Issuers of digital securities are tempted to use Stellar because they suppose that the digital securities can be instantly traded on Stellar’s internal Decentralized Exchange (DEX), and thus provide potential liquidity to investors. But what will happen when the digital securities are traded on the DEX? To illustrate the simplicity of the issuing process, we will issue the FundMeUp digital security (FMU token) and make it tradeable on the DEX in 7 simple steps. (The steps are almost identical to by Stellar’s founder Jed McCaleb): this post In this example, I do not show the function for verification of identity and source of income of an investor (KYC/AML) before allowing him/her to hold the FMU asset. In practice, Stellar’s <Allowtrust> function could ensure that no ineligible account can hold the digital security. 1. Created an issuing account and funded it with 33 Lumens (XLM) 2. Created a distribution account and funded it with 42 Lumens (XLM) 3. Created a ‘trustline’ from the distribution account to the issuing account for the ‘FMU’ asset with a limit of 5000 units 4. Transacted 5000 FMU tokens from the issuing account to the distribution account. This payment is practically creating the ‘FMU asset’ 5. An example of information that could be published about the ‘FMU asset’. This information could be linked to the issuing account by creating an IPFS file and signing it with the public key or by creating a Stellar anchor. Please note that the information above serves as an example and is not published on the Stellar blockchain because there is no legal documentation supporting the ‘FMU asset’ 6. Lock the issuing account by setting its master weight to ‘0’. This is to ensure there will be no point in the future at which extra ‘FMU assets’ will be created. 7. By creating a sell order from the distribution account, the ‘FMU asset’ is effectively broadcasted to the Stellar DEX. Anybody can now trade and buy the asset. You can view the active market via Stellarterm here: https://stellarterm.com/#exchange/FMU-GADF55V6VUNEVLF5GZF3LHUWDQQNCJ2UYZANGZO37G2E76CZPNE5VOQG/XLM-native We make the following assumptions: This was a real issuance; I am really selling economic ownership certificates of FundMeUp via a digital security offering. I have the correct legal structure ( for this particular case under Dutch law) in place. ‘STAK’, would be suitable I have published the legal documents (prospectus or legally compliant alternatives under the prospectus-exemption). I have an investor-onboarding process in which I perform KYC/AML checks. FundMeUp, as an issuer, has ensured that everything it does, concerning the issuance of economic ownership certificates, is legally compliant. Moreover, the economic ownership certificates (and thus the tokens representing them), issued by a Stichting Administratiekantoor (STAK) are among persons and institutions. freely exchangeable But are they also freely exchangeable in Stellar’s internal Decentralized Exchange? Before we can try to grasp the answer to that question, we must understand this: Multilateral and Bilateral trading in the Netherlands Autoriteit Financiële Markten The Dutch finance authority (AFM) distinguishes between security-trades that happen on a designated platform and trades that occur directly between two persons or entities (also referred to as over-the-counter trading). Frankly, the AFM also makes distinctions within the trading-platform category — but we’ll leave that out of scope here. The following definitions are important for the argument of this article: Multilateral trading Happens via a trading system that facilitates the exchange of financial instruments. In most cases, the Multilateral Trading Facility (MTF) or Regulated Market (RM) matches the demand and supply of a specific asset in an orderbook. Bilateral trading Happens directly between two people. Which means there is no middle-man or facility involved to manage the trade. Any (digital) environment that fosters the exchange of securities between multiple people and/or identities . should have an MTF or RM license An entity that fosters/helps to create the exchange such a license, is effectively . without violating the law Trading digital securities on Stellar’s DEX Trading on the Stellar DEX is : Holders manage the storage and safe-keeping of assets in their own wallets and interact with each other . The blockchain network is the ‘middle-man’ that facilitates the matchmaking of buy and sell orders and the blockchain network is also the ‘facility’ that takes care of clearing and settling. bilateral trading directly Old Stellar icon Especially, in the case of Stellar, whereby the exchange is part of the blockchain protocol, it will be difficult, for the regulators, to appoint someone for creating an environment in which securities can be traded without an MTF or RM license. Which brings us to the following question: Who will the regulators (AFM in this case) chase when digital securities are traded on the Stellar DEX? Will they attempt to bring down the whole Stellar network and thereby punish a great international collective, compromise their assets and penalize them for something they were not involved in? Will they penalize the front-ends that enable convenient interaction with the Stellar DEX such as StellarX , Stellarport and Stellarterm ? Or will they penalize the issuer for issuing an asset which is tradable on a network that does not hold an MTF or RM license? That would be strange because the issuer has complied to every law when issuing assets (economic ownership certificates) which are freely exchangeable by Dutch law. Filling up the gap between Legal and Tech Digital ownership of assets, which can be exchanged directly and peer-to-peer, brings up a lot of unanswered questions. Questions of which the answers are not yet embedded in legal frameworks. One could say that the challenge in secondary market liquidity for digital securities is a “light version” of the example of Gutenberg’s printing press. The printing press again In Gutenberg’s time, people could already print books and texts long before copyright laws were in place. Similarly, we can already and it digitally via institutions, or directly peer-to-peer, but we haven’t built the regulatory framework to support such frictionless exchange of assets yet. proof ownership exchange So, to come back to where we started: what is preventing secondary market liquidity for security tokens, with regards to trading digital securities on the Stellar DEX? Chahkouh Canyon in Iran — shot by Farnoosh Abdollahi ‘The good old gap between inventions and regulations’ would be a simple and straightforward answer to that question — If regulators would implement a more robust understanding of what implies, they would understand that trading via Stellar’s DEX is which does not require any license. For anyone that is familiar with the central feature of public blockchain networks: “your keys, your assets”, it would make perfect sense that this kind of trading is labeled bilateral trading. But, as far as I am aware, most regulators do not perceive it as such. I guess we should wait for the first regulatory intervention to find out what happens when digital securities are traded via the Stellar DEX. Until then, we remain in regulatory uncertainty about trading digital securities (or security tokens), directly, peer-to-peer. digital ownership bilateral trading Feel free to connect with me on — and get in touch! Linkedin

Secondary Market Liquidity For Security Tokens: Part 1

A conceptual framework. Pt I Introduction In designing the token model, we have taken a business model first approach. First design our business model, that is how we are going to create and capture value. Then design a high-level token model and finally design the specific mechanisms to implement the design. dexFreight This article sets out the first two stages of this process: the platform business model and high-level token model design. In subsequent posts we will detail the token model and specific mechanism designs. dexFreight About dexFreight dexFreight is a decentralized platform for the logistics industry. It provides stakeholders with an end-to-end solution to book, contract, move loads locally and globally within a community-owned marketplace powered by an ecosystem of open source protocols using smart contracts, blockchain technology, and machine learning. Platform structure is a multi-sided platform comprising: dexFreight Shippers- who send freight Brokers- intermediaries who connect carriers with shippers Carriers- who deliver freight Consignees- who receive freight Our approach Our approach is to design token-powered, network-effects business models which combine the traditional science of platform, loyalty and gamified business models with the emerging field of cryptoeconomics and mechanism design. now Some examples… 1 Web 2.0 saw the rise of the platform as the dominant business model. However, the biggest challenge when building a platform is overcoming the bootstrapping problem. Since, the value of a network typically rises in accordance with where is the number of users; when is low, the network utility and incentive to join is also low. nlogn, n n Web 3.0 introduces a powerful new tool for bootstrapping networks: tokens. As points out, by rewarding early users, crypto-networks can net-off the initial lack of network value with an early adoption bonus. Chris Dixon 2 Whereas cryptoeconomics assumes that actors behave in an economically rational way. Loyalty business models rely on providing customers with high-perceived value versus low actual cost. Instead of discounting a $100 product by $1, a loyalty program might reward with 100 loyalty points each worth a cent. These points can then be used to redeem products and services- giving a much higher perceived value to the customer than discounting. Thus our approach is closely allied with the nascent field of which proposes to extend cryptoeconomics’ assumptions of economic rationality to: behavioural cryptoeconomics “an understanding of the complex, nuanced, illogical ways in which humans actually behave “ [ , ] Behavioral cryptoeconomics Elad Verbin Vision The vision for is to become the decentralized platform that powers global freight. Our goals for this break down into: dexFreight Goals - key to this is overcoming the chicken-and-egg problem increase adoption - in order to drive retention, usage and virality increase engagement - in order to increase transaction and network value increase usage - to fund development of platform attract investment - in order to create a community-owned network decentralize ownership Strategies In order to achieve the platform goals, we have formulated the following strategies: Platform strategies as brokers bring concentration of volume of shippers, carriers and transactions. Incentivize early adoption of brokers- - to overcome the chicken-and-egg problem. Reward early users as concentrated sources of supply. Partner with load boards ‘ ’ strategy, ( ). Seed platform via broker standalone mode — come for the tool, stay for the network Chris Dixon with transportation and fleet management systems. Distribute via widgets and integrations- by rewarding brokers, who refer high transaction volumes, with equity. Create a goldrush effect — Business model strategies to drive usage of the platform via ‘free’ and then upgrade to ‘’core’ premium services provided by dexFreight. Freemium business model- , where third parties build ‘non-core’ apps on dexFreight platform- captures value from external innovation. App store business model Governance end goal: become a organization fully decentralized start in and distribute control God-mode, Triple token model The token model is designed to optimise for our goals and to synergise with our platform strategy. The token model comprises three tokens: dexFreight a stable coin, dexFuel a utility rewards token, dexMiles an equity token, dexCoin Complexity One potential disadvantage of a triple token model is complexity, we would have preferred to have one, maximum two, tokens. However, all three tokens perform a necessary and distinct function within the network, and also interact with each other as an integrated system. So we take the view that our token model is necessarily complex, and therefore our job is to hide this complexity from our users in much the same way that complex, tiered loyalty programs do. Token functions We provide below, a high-level description of functions and desired attributes of each token. A detailed specification of each token will be provided in subsequent posts. dexCoin security token The benefits of the dexCoin security token include: access to global pool of investors via emerging security token exchanges. rewards investors & founders with equity in the underlying company and captures value from company profits, rather than just a portion of network value as for utility tokens grants voting and dividend rights to holders provides increased liquidity from secondary markets and 24/7 trading provides automated compliance, e.g. to ensure that KYC/AML is followed and that investors are accredited (where appropriate) can be an interoperable redemption item for the dexMiles loyalty program, whilst decentralizing ownership. For more on security tokens check-out , and . Jesus Rodriguez Stephen McKeon Bruce Fenton dexFuel stable coin As a global logistics platform, dexFreight needs a mechanism for enabling cross-border transactions which supports fast settlement and low transaction fees, and which is stable against fiat for the duration of a freight transaction. We are researching a number of stable coin options including implementing an external stable coin, as well as the development of our own stable coin. Our preference is to focus on our strategic objectives of building and scaling the platform, whilst partnering with experts in this complex field, rather than building a stable coin ourselves. We are in conversation with a number of teams including and and will provide more detail on our stable coin in a subsequent post. MakerDAO MoneyOnChain With billions of dollars of transactions projected to flow through the platform, one research area for our economists is the use of freight invoices as collateral for dexFuel. A number of protocols have emerged which are doing similar things. For example, the integration between and protocols is enabling off-chain invoices to be tokenised by Centrifuge, and then used as collateral for onchain loans within Dharma, as an alternative to invoice factoring and trade finance. Dharma Centrifuge https://medium.com/centrifuge/centrifuge-tokenized-invoices-as-collateral-for-dharma-loans-b214a23bc66 dexMiles, rewards token The dexMiles token is a utility token that aligns the incentives of the platform and its participants, by creating a vested interest through decentralising network ownership and rewarding target behaviour. As points out in his seminal article ‘ platforms tend to start-out cooperating with their network participants, but invariably they move to a zero-sum game of competition. Chris Dixon Why decentralization matters ’, https://medium.com/s/story/why-decentralization-matters-5e3f79f7638e However, Dixon asserts that by providing a vested interest in the form of a utility token: . “cryptonetworks align network participants to work together toward a common goal — the growth of the network and the appreciation of the token” Why rewards tokens? Rewards tokens are an abstraction mechanism that removes the need to set and describe the reward for every action. For example: instead of the offer ‘If you onboard a shipper, for their first transaction you receive a month of free insurance benefit’, we can simply assign a dexMiles value to the activity and then separately assign rewards for the side. earn burn dexMiles will leverage the RSK equivalent of ERC-20 tokens, and will have the following advantages over standard loyalty points: enable earning, holding and trading of reward currency capture and potentially appreciate with network value gain increased utility from use outside of the ecosystem do not no expire have a fixed monetary policy, preventing devaluation value increases when demand exceeds supply The earning of rewards tokens is mapped against the target behaviours of the system, and also the the platform tactics and strategies. Below is a draft of the rewards points to activity map. dexRewards points to activity map The rewards token also enables us to tune and control the flow of value in order to overcome the chicken-and-egg problem. dexFreight Triple Token Network effects The chart below maps the expected versus for the triple token model. The red line, platform utility, is an curve that shows the delayed onset of user value as per the Chris Dixon chart above. The green line shows the value of dexMiles kicking-in before platform utility, as we reward early users with dexMiles. However, the value of dexMiles will primarily be derived from accessing premium services on the platform. These services will go-live over a 6 month period after platform launch, and the value of services such as machine learning and load optimization depends on data, which is correlated with the number of users. Therefore, the onset of user value for dexMiles will also be delayed . This is where the dexCoin redemption path comes into play. value to users number of users dexFreight dexFreight nlogn The dexMiles system will be constructed to create a mechanism for early adopters. The primary target for this redemption mechanism will be brokers, due to their role as within the freight network, however key shippers and carriers will also be targeted. Brokers who join early, and bring shippers and carriers who then transact on the platform, will be rewarded via a redemption path to dexCoin equity tokens. A detailed description and specific mechanism for the dexMiles token model will be provided in a subsequent post. An overview of the equity redemption path is provided below: goldrush mavens Brokers join the platform early refer many shippers and carriers, who then make transactions ( ) referred transactions earn dexMiles for actions and referred transactions are promoted through rewards tiers earn rate is multiplied in higher tiers (positive feedback) earn dexMiles at an accelerated rate exhaust their supply of new shippers and carriers rate of earning dexMiles subsides (negative feedback) Brokers who have reached the top tier of the rewards program, will be able to redeem their large balances of dexMiles for equity tokens via a reg-compliant process (note: this process and the interchangeability between rewards and security tokens is subject to final legal and regulatory approval.) Thus we meet two key objectives of overcoming the chicken-and-egg problem and decentralizing ownership of the platform to its users. System-level view: how the three tokens interact As we stated above, as well as an individual function, the three tokens each play a role in an overall system. The diagram below depicts the standard interactions between tokens (the goldrush equity redemption path should be viewed as a special process used to jump-start the network). Fiat is deposited. Fiat may be exchanged for dexFuel stable coin dexFuel may be used to transact on the platform Transacting with dexFuel earns dexMiles dexMiles may be redeemed for premium platform services dexMiles may be redeemed for dexCoin equity token Conclusion The above design follows a business model first approach and uses tokens as a powerful tool to tune and operationalise well-established platform and loyalty business model mechanisms. We have shown that the additional complexity due to three tokens is justified. Each token has a necessary and distinct role to play, as well as a role within an overall system.Through tokenising platform and loyalty business models we intend to capture the power of network effects, whilst overcoming the chicken-and-egg problem by rewarding early users with a goldrush mechanism for earning equity. In so doing we also meet a core philosophical objective of decentralizing ownership to platform participants. Subsequent posts will dive deeper into the specifics of the token models and their mechanism designs. About the author: As well as being an integral member of the dexFreight leadership team, Justin Banon is CEO and Founder of meltfactory , a blockchain venture architecture and strategy consultancy specialising in the design of token-powered, network-effects business models and ventures. Having previously built and led a billion dollar global rewards business, Justin is also an academic and researcher in the area of token-powered network effects business models. Previous posts by Justin Banon: https://hackernoon.com/the-nature-of-the-crypto-technological-revolution-4eb883c54d56

The dexFreight platform business model and triple token model

Political Revolution and the Blockchain: A Tale of Two Paradigm Shifts

— ! 2018 WTF Our president thinks shutting down the government is cool, our tech leaders act like they own user data & activity, and I’m just working, working, working until the next family member dies. Where is that work life balance in your own life? Cherish it. Ho hum, lets do this! I looked through the top 100 posts by a number of different metrics, and chose the top 20 overall that embody Hacker Noon. is up to $831k from 714 people (ending soon, ) & email to contribute a story to Hacker Noon. BTW: our equity crowdfund invest today stories@hackernoon.com Hacker Noon’s Top 20 Stories of 2018: 20. by [13 min read] Everything I Knew About Reading Was Wrong Johnny 19. by [13 min read] An Open Letter to Banks about Bitcoin and Cryptocurrencies Peter McCormack 18. The Best Private Search Engines — Alternatives to Google by Christian Stewart ✔️ [6 min read] 17. by [16 min read] 50 Big Companies that Started with Little or No Money Founder Collective 16. by [10 min read] How to Run a Blockchain on a Deserted Island with Pen and Paper Tal Kol 15. [10 min read] Why Angular Made Me Quit Web Dev by Tobias Merkle 14. by [6 min read] Understanding What Artificial Intelligence Actually Sees Nick Bourdakos 13. by [16 min read] The Security Token Thesis Stephen McKeon 12. [15 min read] Google Interview Questions Deconstructed: The Knight’s Dialer by Alex Golec 11. [8 min read] Why is Python so slow? by Anthony Shaw 10. [9 min read] How to Lose an IT Job in 10 Minutes by Albino Tonnina 9. by [18 min read] My Most Valuable Crypto Market Insights For 2018 and Beyond Pierre Rognion 8. by [19 min read] A tale of Webpack 4 and how to finally configure it in the right way. Margarita Obraztsova 7. [4 min read] Top 3 most popular programming languages in 2018 (and their annual salaries) by Dr. Michael J. Garbade 6. by [6 min read] Why businesses fail at machine learning Cassie Kozyrkov 5. by [21 min read] The Ethereum-blockchain size has exceeded 1TB, and yes, it’s an issue StopAndDecrypt 4. by [25 min read] How to Crush the Crypto Market, Quit Your Job, Move to Paradise and Do Whatever You Want the Rest of Your Life Daniel Jeffries 3. by [48 min read] How to biohack your intelligence — with everything from sex to modafinil to MDMA Serge Faguet 2. by [5 min read] How I hacked modern Vending Machines Matteo Pisani 1. by [10 min read] I’m harvesting credit card numbers and passwords from your site. Here’s how. David Gilbertson Until next time, don’t take the realities of the world for granted. Kind Regards, David Smooke P.S. our equity crowdfund is up to $831k from 714 people. Ending soon, invest today.

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