Former Coinbase CTO Believes Major Tech Firms Are Bound to Issue Token Dividends in the Future
In a tweet made on Monday, June 10, former Chief Technology Officer, Balaji S. Srinivasan shared his opinion on the overall crypto scene in the future and, believe it or not, it may entail major tech firms.
As per the angel investor, major tech firms are bound to issue token dividends and he expects them to do so in the following manner:
“Peel off $30B of their stock, tokenize it, and distribute over ~300M Americans, or at least every American active user. So that’s at least $100 per person, $500 if all five of GAFAM do it,” where GAFAM is an acronym for Google, Apple, Facebook, Amazon and Microsoft, notes news outlet, AMB Crypto, who also happens to have reported on this matter.
He also has the impression that if said major tech firms do plan to do so, they might take the “Alaska Permanent Fund” approach. According to the Alaska Permanent Fund Corporation, the APF manages assets and other funds designated by law.
Their aim is delivering “sustained and compelling investment returns.” He specifically tweeted:
“More interestingly, you might also put some aspects of network governance into these tokens such that the public could vote on who has an account and under what circumstances. Perhaps quadratic voting?”
Many of Srinivasan’s followers have since commented on his post. An interesting point was made by one follower who asked why merely target Americans, wondering what’s to come for Indians.
Especially considering the fact that India has recently passed a law that may result in a 10-year jail time for any involvement in cryptocurrencies. Here’s what they had to say:
“Only Americans? What about Indian users where crypto might be illegal soon, but the literate middle class pays tech tax for gdrive storage/ Amazon Prime, etc.?”
Only Americans? What about Indian users where crypto might be illegal soon, but the literate middle class pays tech tax for gdrive storage/ Amazon prime etc?
— Covfefekiri Calling (@CruiZen) June 11, 2019
Another user, who AMB Crypto seems to have referenced as well seems to be for what Srinivasan posted by commenting:
“This makes the most sense out of everything I’ve heard about crypto. It makes every citizen an asset holder and the incentive for GAFAM is the public’s support. Bread and circuses (E3 and crypto) may usher in the era of the technocrats yet.”
This makes the most sense out of everything I've heard about crypto.
It makes every citizen an asset holder and the incentive for GAFAM is the public's suport.
Bread and circuses (E3 and crypto) may usher in the era of the technocrats yet.
— Hilmi Hamdan (@henrihamdanam) June 11, 2019