Validation of Value-Driven Token Economy: Focus on Blockchain Content Platform

Young Sook Kim, Seng-Phil Hong () and Marko Majer
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Young Sook Kim: Seoul Business School, aSSIST University, Seoul 03767, Republic of Korea
Seng-Phil Hong: School of AI, aSSIST University, Seoul 03767, Republic of Korea
Marko Majer: Department of Business, Franklin University Switzerland, 6924 Sorengo, Switzerland

Future Internet, 2024, vol. 16, issue 5, 1-27

Abstract: This study explores the architectural framework of a value-driven token economy on a blockchain content platform and critically evaluates the relationship between blockchain’s decentralization and sustainable economic practices. The existing literature often glorifies the rapid market expansion of cryptocurrencies but overlooks how underlying blockchain technology can fundamentally enhance content platforms through a more structured user engagement and equitable reward system. This study proposes a new token economy architecture by adopting the triple-bottom -line (TBL) framework and validates its practicality and effectiveness through an analytic-hierarchy-process (AHP) survey of industry experts. The study shows that the most influential factor in a successful token economy is not profit maximization but fostering a user-centric community where engagement and empowerment are prioritized. This shift can be expected to combine blockchain technology with meaningful economic innovation by challenging traditional profit-driven business models and refocusing on sustainability and user value.

Keywords: blockchain; smart contract; content platform; token economy; triple bottom line (TBL); analytical hierarchy process (AHP) (search for similar items in EconPapers)
JEL-codes: O3 (search for similar items in EconPapers)
Date: 2024
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