Token Effort - A cartoon that illustrates how a new token economy is emerging that is impacting finance, identity and commerce. Most consumers think of tokens as substitute money (e.g. a coin token for game slots at an arcade), but this is changing to the concept where any data can be converted into a token. For example, already consumers use a ‘token’ version of an underlying credit card whenever they use ApplePay and there are already four States in America that allow ‘ID with a tap’ where a token of a driver’s license is used to confirm identity. The next bull run in blockchain will likely be based on real world tokenization of assets, which is turning any financial product into a token and fractionalizing it. For the consumer market, this could upturn the home buying market, enabling Gen Z home buyers a chance to buy a fraction of a home for investment or slicing up the downpayment of a home with multiple parties, thereby addressing the home affordability crisis. Blackrock’s CEO remarked, “tokenization of asset classes offers the prospect of driving efficiencies in capital markets, shortening value chains, and improving cost and access for investors.” According to a report by Citi, tokenization will grow by a factor of over 80x in private markets and reach a value of almost $4 trillion by 2030 (global GDP is roughly $100 trillion, for context).