Tokens For Time? Inside One Banking Exec’s Blockchain Pet Project

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“The level of experimentation that’s now possible … it’s just incredible.”

So says Alex Batlin, global blockchain lead for BNY Mellon, in a conversation about a new personal experiment he’s working on dubbed the ‘Alex Batlin Time Token’. While not an official project tied to his duties for BNY, it’s undoubtedly an offshoot of his work with the firm, having spearheaded blockchain testing while at UBS as well.

The idea is fairly straightforward. Batlin created a token via the ethereum network, each of which represents a liability against a certain amount of his time. If you want Batlin to work for you, you send the token back. Should you decide you don’t want him to work, but you want to reap the value of his time, then sell it to someone else.

At its heart, Batlin says, the time token – outlined in a recent LinkedIn post – is an experiment in trust, specifically how one can effectively commodify trust in a digital format. In this instance, blockchain acts as a cost-efficient rail for distributing that digital commodity. On one hand, it’s kind of like a loan. On the other, it’s sort of like a new

Read more ... source: CoinDesk

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