Social Tokens

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Social tokens represent individuals, in particular creators.

Tokens capture the value a creator generates in the form of reputation.

Some will buy the token to support the creator and belong to their community.

A creator can build their own token network with governance, incentives, and more.

Also called creator or community tokens, these tokens represent a new form of fandom.

Tokens based on individuals may or may not outlive the individual.

This has yet to be determined.

Just as fame rises and falls so the value of the token will rise and fall with it.

Social tokens are similar to social media in which individuals burnish their reputation through their postings.

Creators pursue social tokens as a means to finance their activities.

This applies to musicians, writers, and other creator types.

If your fans could support specific projects then the creator can pursue more of them.

The social token generates publicity for the creator as well.

Consider a social token for mobilizing your community to support upcoming events and projects.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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Types of Wallets

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

There are several types of wallets used in the blockchain space.

They can be hot or cold wallets.

Hot means the wallet is connected to the internet and can exchange digital assets directly.

Cold means the wallet is offline and cannot exchange assets until reconnected to the internet.

The cold wallet provides greater security as no one can hack it online.

The hot wallet provides convenience as one can use it to exchange assets more freely.

There are several types of wallets as follows:

Online crypto wallets -- the wallet is provided by an online service.

These are provided by exchanges to enable the flow of digital assets.

Mobile wallets -- the wallet exists on the mobile device.

These make it easy to pay for things using one’s digital assets.

Hardware wallets -- the wallet exists on a hardware device such as a USB stick.

These make it easy to take offline for security purposes.

Desktop wallets -- the wallet resides on your desktop computer.

This makes it easy to access from other applications.

Each has its own advantages and disadvantages trading convenience for security.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
For Startups check out: https://tencapital.group/company-landing/
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What Is a Blockchain Wallet

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

A blockchain wallet is an online wallet with which users store and manage their digital assets.

These assets could include cryptocurrencies, tokens, non-fungible tokens called NFTs, or more.

The wallet maintains the links to networks, applications, and other systems.

The wallet has a password for user access and can be recovered using a seed phrase in case the password is lost.

The wallet does not physically hold the digital assets but rather holds the links to those assets.

The wallet has a public key and a private key.

The public key is an address for the wallet and can be used as a means of identifying the wallet.

The private key acts as a password.

The private key is used to ensure the security of the wallet to which the user is the only one who has access.

Web2 applications use the login/password method to provide user access.

The problem here is that the public key and the private key are the same.

By placing a network token into your wallet you can gain access to that network.

The user controls their data through the wallet rather than login/password access.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
For Startups check out: https://tencapital.group/company-landing/
For eGuides check out: https://tencapital.group/education/
For upcoming Events, check out https://tencapital.group/events/

For Feedback please contact info@tencapital.group

Please follow, share, and leave a review.

Music courtesy of Bensound.