Blockchain 101 Episode 80 – Blockchain Projects – Utility Tokens

The third type of blockchain project is Utility tokens. Utility tokens are built on blockchain platforms such as Ethereum, to solve problems in various sectors in the real economy.

Some examples are :
Augur, a predictive market platform Golem, a computing power market platform , VeChain, a luxury goods product management platform, OmiseGo, a decentralized exchange and open payment platform.

Utilizing blockchain technology, These projects can solve the trust problem and cross border payment problems.

At the same time, utilizing smart contracts and tokens on the blockchain, auto-execution of initiatives can be better implemented, greatly improving efficiency of social and economic activities.

Utility token projects encompass a wide range of fields such as finance, social, gaming and IP rights etc. It is also the fastest growing area of blockchain projects.