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@zeni.eth
"Build a tokenized world where all value can flow freely." - @wwarren on the 0x mission Being new to the space, I wanted to dig deeper, starting with these questions... 1. What does "tokenized" mean? 2. Is "all value" really _all_ value? 3. How do tokens help value "flow freely"? My answers below, open to critique!
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Q1/3) What's Tokenization? The suffix "-ation" obviously represents the transition of something from one state to another. In this case, it's from "not tokens" to "tokens" So what are tokens? My current understanding is that they're "a representation of ownership of {something}." That {something} is primarily digital value — money, art, voting power, etc. — but can also be real-world things with a bit of extra help. Why Tokens? Paired together with the immutable, decentralized nature of blockchains, tokens make ownership more "real". Vitalik can't take away your ETH (a token) even if he wanted. It's not possible. On the other hand, Farcaster could take away a channel you're squatting (not tokens) if it wanted. So, the tokenization of channels would involve a process where channels become tokens on a blockchain. Unless Farcaster explicitly designed a clawback mechanism to reclaim channel tokens, they couldn't take them back even if they wanted to.
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Q2/3: Is "all value" really _all_ value? My quick take is "no, 'all value' is not _all value". I think it would be closer to "all value that can be owned," reminiscent of the "priceless" Mastercard advertising campaigns. Valuable and tokenizable - Art, music, real estate, money, game items, voting power Valuable but NOT tokenizable - Tacit Knowledge, trust, positive subjective experiences, etc. Controversial but theoretically tokenizable - citizenship, legal rights, humans as resources, etc. Splitting hairs for my own sake, not to give 0x a hard time. I actually think the simplification is necessary and legible, and 0x makes explicit nods to "financial systems" on their mission page. (Value (noun): the regard that something is held to deserve; the importance, worth, or usefulness of something. (Oxford dict.))
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