Digital assets such as a token are an emerging topic with a growing interest in finance and academia. The underlying blockchain technology already provided us with numerous financial use cases beyond the storage of value. At the same time, the whole topic is still in its early days compared to the traditional financial system as we know it. The first time someone ever documented the idea of selling shares of a company in the form of tokens was in 1994 when de Bono introduced the IBM dollar. I...

Digital assets such as a token are an emerging topic with a growing interest in finance and academia. The underlying blockchain technology already provided us with numerous financial use cases beyond the storage of value. At the same time, the whole topic is still in its early days compared to the traditional financial system as we know it. The first time someone ever documented the idea of selling shares of a company in the form of tokens was in 1994 when de Bono introduced the IBM dollar. I...