Programmability and the Product vs. Network Friction in Security Tokens

Too Long; Didn't Read

The dilemma between building isolated products versus network ecosystems is one of the living frictions in the security token ecosystem. In the past, <a href="https://hackernoon.com/platforms-vs-networks-decentralization-vectors-in-security-tokens-ae0a97212922" target="_blank">I’ve written in detail about this idea</a> but lately I’ve come across some fresh ideas in this area that involve the subject of programmability. The fundamental thesis I would like to explore is related to the relationship between programmability and decentralization in security tokens. More specifically, I believe that <em>“if programmability becomes a relevant capability of crypto-securities, the space will inevitably gravitate towards more decentralized network models”</em>( for the purists out there, noticed that I used the terms more decentralized and not decentralized 😉 ).