„A recent article from Bloomberg reported that of 226 ICOs and token sales analyzed, only 20 of the corresponding tokens were actually used in the running of their networks, demonstrating utility of some sort – that’s less than 10 percent.
For many companies, utility appears to be an afterthought, but for a token to be successfully adopted into the community, it is the most critical component. With the amount of tokens on the market today, and new ones being launched every day, it’s clear there is a bubble, though the size of it might be debatable.”
Shawn Wilkinson from Coindesk argued 3 ways companies have to create they utility Tokens and we tried to connect dots and show that our Ziggurat Token is 100% utility Tokens.
The first argument is about purchasing services. PlanetZiggurat issued tokens mainly for two reasons. First is about collecting financing for future development and second is to find useful way connect service buyers to our Ecex.Exchange Trading Platform.
„Purchasing services with tokens accelerates the time it takes for a transaction to settle, it makes purchasing services easier and adds an element of privacy as well. In the beginning, when the company is scaling and spending more money than they are making, the volume of tokens exchanged for the purchase of services will be minimal, but as the company’s revenues grow, so will the token transfer rate. You don’t need to require tokens to purchase services, but providing the option (and possibly providing a discount for doing so) can go a long way in driving the use of your token.”
The second argument is about the create a self-sustainable ecosystem. Ecex.Exchange Trading Platform is developed exactly for solutions like using utility Tokens. Trading Platform is using ethereum smart contract solutions, allowed client to make transactions with different money and coin solutions ethereum, bitcoin, and free market Tokens included. We will create a marketplace that connects buyers and sellers, facilitating transactions utilizing Ziggurat token and we create a self-sustaining ecosystem that is based on transacting our Ziggurat token.
The third argument is about automated smart contract payments. Ecex.Exchange Trading Platform will definitely use smart contract but our first option is to use them to approve contracts. There will be several NDA agreements what have to be approved besides the main assignment agreement contract and ethereum smart contract solution giving us that possibility.
We do not rule out automated smart contract payments entirely, but our business model fundamental agreement take place between our client and we have only advisable and deliberative role. Automated payments capabilities can be used on our Trading Platform regarding trading service fees and on same side-products as phone payments or wallet services.
The conclusion is that Ecex.Exchange Trading Platform Ziggurat Tokens fit well into the definition of the utility token.