A Tokenized Public Good is a digital token that stores shared wealth

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Abstract: A significant portion of the world’s total wealth exists in the form of Public Goods, but currently there are no financial assets that can store this value. This is because Public Goods are by definition non-excludable, and existing financial assets can only store value for goods and services that can be exchanged for currency by an owner. As a result, there is lost global wealth as the development and maintenance of value provided by Public Goods is unstored and undercapitalized. In this paper, a solution to this problem is proposed through a new type of financial asset called a Tokenized Public Good (TPG). A TPG is a fungible digital token representing value created by a Public Good. It is constructed to act as a store of value by having a limited supply, being made available on open markets, and by incentivizing the creation and maintenance of a valuable Public Good. TPGs are issued and distributed by Token Issuers – organizations that compete to define an asset with unstored value, measure real-world creation of the asset, and identify the appropriate Value Creators for token distribution. Investors buy tokens based on an expected return of value – both in the future value of the token and the future value of public good creation incentivized by the asset. A healthy marketplace for TPGs would would improve Capitalism by allowing our financial system to better track what we as humans actually value.

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