Tokenization and DAOs on Blockchains

This book is aimed at all readers who want to familiarize themselves funda-mentally with the web3, the Internet of Value. It provides an introduction to the decentralized world of blockchains, smart contracts and new applications of tokenization. After presenting essential features of distributed ledger technologies, the advantages and disadvantages of the new technology are discussed. The author presents a new, clear-cut token classification for tokens as new digital objects of value. Moreover, a profile of digital web3 business models is presented for the token economy. With cryptocurrencies and tokens in general, another topic arises: Decentralized Finance (DeFi) deals with the functions of new proprietary payment systems, new passive income types in the DeFi financial system of cryptocurrencies and the financing of blockchain companies with ICO and STO. With DAO, future fully automated companies on the blockchains, the author addresses a little-known and rarely discussed topic. The question of legal certainty and an overview of the extent to which the token economy and DAO start-ups are currently anchored in legal systems rounds off the book. The book concludes with an outlook on the future of blockchains.