Tokens are one of the achievements derived from encryption technology. Tokens are decentralized and distributed, and tokens are also private/secure. Others include digital signatures, blind certificates, anonymous emails, etc. These technologies have flourished with the prosperity of the Internet. Holding tokens is a kind of warrant, similar to equity certificates in traditional equity investments.

I think the biggest difference between investment tokens and traditional equity investment is the essential difference in the target. One is a derivative in the rapid growth and imperfect development of the Internet based on decentralized technical agreements; the other is a certificate issued in the traditional Internet field, which is endorsed by exchanges and physical companies. Obviously, it is a derivative of the development of the traditional Internet to the later stage.

For example, we invest in Apple shares and Bitcoin/Ethereum. Logically speaking, everyone is the same. I am optimistic about Apple and you are optimistic about Bitcoin. Apple is already a giant in the traditional Internet field, with a market value of $2 trillion, the total market value of blockchain is only 900 billion US dollars, and Bitcoin accounts for about $360 billion. We buy stocks on the stock exchange. We only own the certificate, not the ownership of the stock; when we buy tokens, we fully own the tokens.

NFT is a non-homogeneous token, which is an electronic authentication or certificate of ownership of virtual goods. In essence, technology is consistent with tokens. The difference is that NFT can be seen and is now translated into paintings, works of art, sounds, movies, projects in games or other forms of creative works.

After we have full ownership of tokens or NFT, how to combine ownership with the project requires project governance. As far as some projects in the blockchain field are concerned, most projects are not completely decentralized, and there is still a great connection between them and traditional equity investment. During this period, the performance of many projects in the bear market also made people more aware of the meaning of the word decentralization. At present, the blockchain field is still in the early stage. With the development of the Internet, it will continue to expand and expand. We have decentralized and distributed characteristics. Cryptocurrencies can definitely change the economic structure, just as personal computers subvert management and communication structures. The privacy/security innovation we have is critical to the development of an adaptable and complex economic structure at a higher level.

DAO (distributed autonomous organization) is indispensable in the development of cryptocurrency and is most in line with the spirit of decentralization. Let's govern together and share the benefits. Syndicate is a very good project developed in the field of DAO. It avoids centralized governance and can also combine offline entities to comply with the law. This is quite important. If the cryptocurrency system is to develop, it is inseparable from realistic rules at this stage. Privacy will make the government very worried. There are only two. Combined, the development of the system can be promoted.

I think further attempts are needed to combine tokens/NFT and DAO. For example, the fund operation model can be simulated. Syndicate provides a template for operation to invest in tokens/NFTs or operate a company, which requires more refined operation to make DAO operate smoothly.

Tokens are one of the achievements derived from encryption technology. Tokens are decentralized and distributed, and tokens are also private/secure. Others include digital signatures, blind certificates, anonymous emails, etc. These technologies have flourished with the prosperity of the Internet. Holding tokens is a kind of warrant, similar to equity certificates in traditional equity investments.

I think the biggest difference between investment tokens and traditional equity investment is the essential difference in the target. One is a derivative in the rapid growth and imperfect development of the Internet based on decentralized technical agreements; the other is a certificate issued in the traditional Internet field, which is endorsed by exchanges and physical companies. Obviously, it is a derivative of the development of the traditional Internet to the later stage.

For example, we invest in Apple shares and Bitcoin/Ethereum. Logically speaking, everyone is the same. I am optimistic about Apple and you are optimistic about Bitcoin. Apple is already a giant in the traditional Internet field, with a market value of $2 trillion, the total market value of blockchain is only 900 billion US dollars, and Bitcoin accounts for about $360 billion. We buy stocks on the stock exchange. We only own the certificate, not the ownership of the stock; when we buy tokens, we fully own the tokens.

NFT is a non-homogeneous token, which is an electronic authentication or certificate of ownership of virtual goods. In essence, technology is consistent with tokens. The difference is that NFT can be seen and is now translated into paintings, works of art, sounds, movies, projects in games or other forms of creative works.

After we have full ownership of tokens or NFT, how to combine ownership with the project requires project governance. As far as some projects in the blockchain field are concerned, most projects are not completely decentralized, and there is still a great connection between them and traditional equity investment. During this period, the performance of many projects in the bear market also made people more aware of the meaning of the word decentralization. At present, the blockchain field is still in the early stage. With the development of the Internet, it will continue to expand and expand. We have decentralized and distributed characteristics. Cryptocurrencies can definitely change the economic structure, just as personal computers subvert management and communication structures. The privacy/security innovation we have is critical to the development of an adaptable and complex economic structure at a higher level.

DAO (distributed autonomous organization) is indispensable in the development of cryptocurrency and is most in line with the spirit of decentralization. Let's govern together and share the benefits. Syndicate is a very good project developed in the field of DAO. It avoids centralized governance and can also combine offline entities to comply with the law. This is quite important. If the cryptocurrency system is to develop, it is inseparable from realistic rules at this stage. Privacy will make the government very worried. There are only two. Combined, the development of the system can be promoted.

I think further attempts are needed to combine tokens/NFT and DAO. For example, the fund operation model can be simulated. Syndicate provides a template for operation to invest in tokens/NFTs or operate a company, which requires more refined operation to make DAO operate smoothly.