The Token Economy: It is time we all get paid for every single job we do
“In the future, more and more things we do (passive or active) are going to get compensated by a token of some sort. In the same way today governments are issuing money, in the future companies will be issuing tokens to marry that value to a function that they have, or a product of their specific offering.”, William Mougayar at Ethereal Summit 2017.
As William Mougayar (@wmougayar), the author of The Business Blockchain said during the Ethereal Summit 2017, “We all have 3 jobs today: the job that we get paid to do at an office; the 2nd job is taking care of ourselves and our family and household; and the 3rd job has been given to us by another company for using their services – renting a car for example. All kinds of jobs have been given to us, without us getting compensated (paid) for them.”
Does that sound fair? Not to me. It is time we all receive the equivalent value of our contribution towards a company. Each business can benefit from the crowd intelligence, and the smart companies do use this collective intelligence to improve their services. An even smarter company rewards the source of this valuable information – their clients. And it is time for all of us to learn, that it’s perfectly fine to be compensated for our effort an time.
We are all part of the Token Economy already
This is not a new concept. The token economy is a reward system used to reward a target behavior. Many schools and kindergartens work with some sort of rewards (tokens, stickers or other form of points) to encourage positive behavior in children. Tokens are also applied in all sorts of games, where players receive a reward upon achieving a certain stage, marked as target by the game creator. Token economy is also every workplace; each person who goes to work gets rewarded upon achieving goals, set by the business, and in return gets paid. More often the payment is in the form of fiat currency, such as euro, dollars, etc. Very often there is additional value, in the form of lunch allowance, gym membership, travel costs and paid annual leave. This also adds up to the remuneration which we all receive by going to “work”. So we are all very much aware of the token economy and are active parts of it.
What if each company issued its own token to reward each activity, which brings some sort of value to them?
Then I guess we would all get paid in different currencies (tokens) depending on how much value we have added to each company. Which makes us all collaborators of a company, without having a civil contract. We can have 10 different jobs, where we dedicate different amount of our time, so it is only fair to get paid for each hour of our time, which we give to a business. Thus, none of us depend on a single employer, but rather on many different employers, which also benefit from just the part of us which serves their business.
The Dentacoin Token was created to help Dentacoin Foundation in the mission to improve Dental Industry globally, by giving power to the people (in this matter – patients). Dentacoin works on developing a number of tools, each one targeting a different aspect of the dental industry. By using and implementing these tools people will receive rewards in the form of Dentacoin, which they can later use to pay their dental treatment or to buy products, related to their dental health. This is a long-term mission, which will eventually result in improving dental health, thus improving overall health and improving life longevity.
Also published on Medium.