can claim by scanning the barcode and this nft is only minted today to the attendees of this token engineering track days but it's valid for forever it's non-transferable and you'll a can prove your token engineering knowledge with it and B you have a say in the community for example in distributing funds for token engineering public goods projects there will be another grants round for token engineering projects in August te comments is going to run it we collaborate with t comments and you'll have an additional voting weight in case you hold this nft so make sure to claim it and it works like you requested we'll confirm and then you get it airdrop know if needed it's on optimism just for your information now okay but you have to Mint it today right it's only distributed to attendees today uh you might have some more time but keep in mind it's it's a very you know exclusive thing because it's only for this very particular event all right let's go Chris the stage is yours thank you so much Angela um good evening everyone welcome to the presentation my name is Christopher and I am from Vienna and I'm represented here um with Adam and token engineering Labs token engineering Labs is the company that I founded and the idiom is the product that I'm currently working on so I'm happy to share all of the insights of what I'm working at right now but also giving you an overview of how I became a token engineer over the last five six seven years um this is an interactive presentation so we've collected 10 questions from the audience from the token engineering community and I will address them in my presentation I have some something prepared so like the first part of the presentation will be you know I present a guided talk from me on trying to address some of the questions but then at the end there is a list of all of the questions and we're gonna make some time to talk about them individually okay so what makes me qualified to talk about this today maybe first question before we start two of you guys in this room is already a token engineer raise of hands one two three okay who is an aspiring token engineer who would want to become one one two three four five six okay much more this is nice and who of you is only here because there are no other talks at the ECC right now thank you so much for your honesty okay so who I am my name is Christopher and I am a researcher and PhD candidate at the crypto econ research lab at the vu in Vienna and which means that I started the PHD in crypto economics and token engineering five years ago something that is still ongoing but I will tell you why there are several reasons why this is still ongoing on the other hand I'm the founder of token engineering Labs which is both a community and a company so we what we do is we consult clients who want to design their token economy who want to build the token systems and we help them with conceptualizing the the problem will help them to specify the requirements we help them to make the first designs and build numerical simulations right now I'm working in the role of the CTO for one company which is Adam Los angeles-based company that is focusing on decentralized community content creation and tokenization my background is in mathematics so I have a formal education in mathematics I have a master's degree from the Technical University in Vienna and with the focus on applied economic modeling and I have some working experience in banking and finance so after I finish my studies I went to work in banking systems integration for for example regulatory systems or portfolio Management systems and so software heavy Consulting and after some time I found out that this doesn't excite me at all and I wanted to transition to crypto so in 2018 and this was the time when I started my PhD and decided to become a token engineer without even the possibility of knowing what this is because back then it didn't exist right so we met Angela in 2018 I think it was and at the token engineering Global gathering in Berlin where the community was started so many of the speakers today who participated in the track of at Etc are people whom I met quite some time ago who contributed to the creation of the space and what I'm very proud of and what I see happening um is that more and more people are engaging in the community more and more people are contributing we have so many new attendees we have so many new participants and everyone wants to learn from themselves but also wants to contribute and teach others um my focus in my research and in my applied research work was on token engineering and crypto economics and I've been contributing to the Token engineering space since 2018 where one among other things I've authored or co-authored to the Token engineering fundamentals course so some of you who might have heard of it or some of you who might have done this already I was one of the authors who contributed in writing the contents okay so let's start now and because this was one of the questions so one of the questions I received for the talk today was what what are the key principles and what are the key Concepts in token engineering that everyone should know about so let me give you some motivation let me give you some introduction of what we're talking about here today so this is one of the central slides of my presentation because it simply connects what crypto economics and token engineering is and those things go in parallel so on the one hand you have the theory so you're asking questions about the systems that you're designing you're asking questions about and what is it that your um your system is supposed to facilitate how is it that your system is supposed to perform what are the goals what are the performance metrics that you want to earn to Target in your design basically asking why questions if you know what you want to build or if you understand what you're designing if you understand what you're analyzing then you can apply token engineering which is the methodology this means that this is a set of instruments and you've heard so many of them today in all of the presentations that we had at idcon and at the presentation from from previous speakers every one of them was showing us which tools they use and apply in their thinking and in their analysis to answer those questions okay and there is a variety of tools and then there is no one specific tool that is you know the best of all there are very tailors to particular Solutions and I encourage you to learn most of them or understand most of them and select then the ones that are most suitable for your own practice so you see that those things crypto economics a theory and token engineering then methodology go hand in hand and you have to apply both so you have to understand the concepts but you also have to learn the methods and what is it that we are doing and this is kind of one of the benefits that we are building on DLT decentralized infrastructure is that we can bridge the gap between economics and Engineering because this is something that was not able before because when you were building analog economic systems you were not quite so sure about the state of the system you were not quite so sure about the metrics or the values of metrics or values of particular parameters because you had a big latency between observation and measurement observation and implementation of policies which means that you were not really sure what's happening and you couldn't really build robust methods or you couldn't build robust mechanisms that would help you to guide or control this economy so with the Advent of blockchain Technology now you have full data transparency you have full knowledge of the state and you have full um security that the that the values that you're observing are really the true ones because you know that the the information is stored in a tamper-proof way and this allows you to build economics on steroids so this is what token engineering and crypto economics is is basically building economic systems that are facilitating heavy data and robust methodologies so any of you who attended my one of my presentations before and might have noticed that I've added something to it like we didn't have this guy here over there so the idea is that you are using abstraction to formulate your problems and you are using different engineering methodologies and you see here a map of mathematics for example where different tools methods or even domains within mathematics are explained that are used to articulate or to approach different problems on the left hand you see the map of Economics or the map of economic School thinking which is a science that emerged roughly 250 to 270 years ago you can you could argue with uh with Adam Smith and and his you know book The Invisible Hand and so the theory about the invisible hand which is basically a way to trying to understand social interactions but if you study this map and I'm happy to to distribute this in a higher resolution is you will see that out of this way of thinking of first economists or first sociologists many different other schools of thinking emerged so there is no one unique way to think about economics there is no unique way to think about how to treat social interactions this is heavily reliant on the assumptions that you're making so if you want to make any conclusions in the domain of Economics you are really really relying on the assumptions that you're making um for your modeling and for your understanding of the system now the synthesis of those two approaches facilitated by the blockchain technology allows you to apply heavy machinery to solve those problems okay and this is what crypto economics is doing what you need to understand and I encourage you to look into one of the Publications from the research institute I think it's from 2018 or 2019 version and sarcom published the foundations of crypto economic systems and two key and informations that are included in this in this paper are and depicted here on the left and right hand side so I want to discuss two very important properties of crypto economic systems or tokenized decentralized systems one of them is that they are very interdisciplinary so if you want to become a token engineer you have to basically work multi or interdisciplinary in all of those fields which is quite of heavy right on the other hand if you want to become a token engineer you have to understand many layers of abstraction so you are Building microeconomic Systems You're Building microeconomic mechanisms that if then if if interactions happen emerge into something on the microeconomic scale so you see that you are designing the micro economy but what you're interested in is the microeconomic emergence of the effects on the top level this is what you really want to control this is what you really want to to observe you want to build a system that has particular properties but you are not in the power of controlling those properties you're more so much in the power of defining the microeconomic mechanisms and controllers on the micronomic level in the hope that if aggregated the effects will emerge in a way that is desirable so this is the property of crypto economic systems multi-layered approach but this is kind of leading in today's presentation right what do you need to know and where are you coming from so if you want to become a token engineer you should be familiar at least with one of those fields because this would be the Point of Departure this would be your starting point of your journey this is where you would say okay I understand something about this and now let me either a specialize in this direction or B and or try to understand as much as possible about all of the other fields so that you can synthesize your knowledge into understanding the problems that you're analyzing because this in the end is kind of the challenge you will not be the one token engineer on the project you will not be D1 person responsible for solving those issues you will be working in interdisciplinary teams across you know different departments and across different specializations and we heard this already today and especially right now on the panel that um you need to to focus on on one of the problems that you can contribute to but very important is the communication between the department and you need to be able to articulate your problems in a way such that other domain experts are able to take this information and feed this in into their thinking so that together you can solve this problem the next slide is just depicting a typical standardized token Engineering Process we've heard this quite a bit already today maybe not so um like direct like so I I don't know if anyone had this slide already um on the screen but um everyone who was talking today was either talking about something that is related to the Discovery phase defining the problem or something that is related to the design phase which is specifying and formulating the problem or mostly what was presented today was the deployment phase which is a numerical experimentation of the models that you've built in order to understand the problem and the trade-off between different parameters so we've seen a lot of simulations and a lot of simulation graphs today and from different presenters who are just showing in their project and with the tools that they have developed or they are using how they have been tackling different types of problems and this is kind of the process that you go through every day a so you first try to Define what you're talking about you formulated into mathematical language and then you run experiment to feed in back into the design process and I have this depicted on the next slide so this is the job of a token engineer where you basically continuously model simulate and tune and you do this iteratively you don't ever stop because also mentioned on the panel full lifecycle perspective so there is no final project as a token design there is no final version of your economy you are continuously either designing or monitoring and governing your economy to make sure that everything goes according to plan okay um and what is the biggest challenge or your biggest goal the biggest goal is the alignment of incentives in your system across your participants and time and you have to think of it from two different perspectives so here you have the temporal perspective you have alignment of preferences over time for individuals is not trivial so you have different stakeholders in your economy you have different participants and everyone maybe wants something different at a different point in time some of them are more impatient some of them can wait it's kind of difficult to provide mechanisms so that everyone is satisfied so this is one of the trade-offs and one of the alignments that you have to achieve and the other is the aggregation of preferences between individuals and the system level so you every one of them has my optic individual um you know optimization problems that they're solving so they are trying to optimize for themselves but if you let them do this you might come to a game theoretical outcome where in aggregate the system will not perform as intended so the aggregation of preferences between individuals and system goals this is kind of the very key challenge that you have to solve and now consider that you have to do both things at the same time okay good okay so this was kind of the anchoring of like what are the key important Concepts what do you need to consider how do you need to approach a problem what do you need to do and now let me give you some background of how I did it or how my personal Journey went but please consider that this is not career advice okay so what you have to do is you have to strike the right balance between three pillars and between education project work and Community engagement um because you need to deepen your understanding about the theories and the concepts and and the applications and the tools that I've outlined before so this is one of the things so you can for example select a suitable University program for yourself if you are at this level right now if this is your stage if you're a student try to find something that fits into your vision of token engineering there is no token engineering program out there yet so like you cannot apply anywhere and go to a university and say I want to become a token engineer but considering all of what I said before and given your background and your interest you might be able to select something that helps you to focus on one of the areas deepen your understanding and then transition to um to this token engineering profession by conducting work in this area if you are already more advanced in your career and you don't have time to start a university program which might be the case what you can do is you can go to the Token engineering Academy and complete the te fundamentals course which is a free online course that you can do that will demonstrate the token engineering project applied on one of the examples that we found very useful and very you know well known in the space on uni swap so we've demonstrated in this course and you will learn how to do it yourself how to design a decentralized Exchange going through the discovery design and deployment phase of the model once you have this base covered so your education now um You should also make sure that you're not only learning in theory but also learning in practice so the best way that you can do is work for a project start your own project or just participate and learn in their community next what you also have to do is you have to make Community engagement in the sense of crypto lifts from people who are contributing to the space crypto live lives from people who are starting meetups who are and making events who are learning together do this if you don't if you're not already a member in one of your local meetups just start one yourself so let me focus on on each of those three points individually first of all I said this already before select a program depending on your level interest and background this is the easiest thing to do for me it was a PhD course so I wanted to really learn how to build token systems there was there wasn't anything out there in 2018 I decided to start a PhD in this and basically Define my own curriculum and learn things that I found very interesting and applicable there are some online courses I mentioned here three because I know of them so there is this te fundamentals course where you can learn the token Engineering Process there is um cadcat educational course where you can learn how to build um software models in in cadcut and modeling your economy and if you want to learn solidity you can go to cryptosombies.com or dot IO where you can learn to build your own solidity programs um applied on one particular example to continue learning so it means that you should curate your own list of YouTube channels that you find most interesting and continue watching them there are so many different materials out there and depending on your level again you can start with very simple overviews of you know projects presenting themselves what they have built build or which simulations and analytics they have performed but also you can really open up for example MIT courses and learn a course on you can you can do a course on on optimization you can do a course on Game Theory so so whatever you really find interesting and you've you have the time and you want to really specialize in this field try to find online resources that allow you to do this on your own Define your own curriculum this is crucial so there is no one out there who will tell you what is best for you and what you need to to to be able to to execute this profession simply because it's so huge so there is and no no standard way or no standard uh knowledge that you need to know in order to be able to do this you focus for yourself you choose for yourself what you want to do which domain and in this field you want to want to become an expert in and then you go keep reading books read and discuss academic papers there is so much out there for the last five years so many Publications about any of the topics that you're interested in and sometimes it's difficult to find but it is very easy if you have a Point of Departure and if you have academic friends to ask them or you can attend an academic conference and to ask them what is something that you would recommend me to understand for example uni swap what is something that you um you would recommend me to understand economic markets there is literature out there and you have to learn and practice coding this is a tool that you need so if you don't know already how to do it start an online courses on python start online courses on cadcat whatever brings you Joy and whatever makes you happy and Twitter is a very good place to participate in discussions especially there are people out there who are summarizing information in a very efficient and convenient way so if you follow the right people and if you I know that token engineering Academy is also doing this you are able to get so much information and so much references just from Simply reading a thread on the topic and and pursuing this further Project work um again if you if you are able or if you're willing to go to Academia and start a program either on the Masters or or maybe on the PHD level you will be working on projects so this is kind of what is happening if you are working at a university they will give you something to work at they will provide you with with funding for a particular research problem and you will be the one researching this and and working on this deliberately so this is one way to get exposure to such type of problems if you are not in the academic path you can go to projects and try to contribute to their existing work so this is what I recommend people look up the project that you're interested in look at the documentation look at the web page look at the GitHub repos and try to find out what they already have they very often also have a list of questions of what they are currently interested in and if you are able to provide some guidance on how to solve it or even you know contributing to next steps in this direction you will very often be able to receive funding for this so if there is a project that is interesting for you if you can identify a research topic that you can help with go this way and and make it happen you can apply for grants in crypto this is happening so there are many projects that are saying if there is someone who is solving this for us or who's willing to work on this for us um then you can apply for Grants they will fund you another way to go is to start your own Enterprise so you can just you know start a project start a company start something that where you will dedicate your time on working with others and if you're good enough and you're capable enough you are able to sell your services if you're able to apply for a job do it any job is good so like getting your foot into the door in crypto is the way to go if you're not able to do it there are many projects will allow you to volunteer or work in their marketing department where you can also contribute and step by step learn on the job Community work start your own meet up or Discussion Group you can do this online you can do this in real life whatever makes you happy and it's important to build your own Community it's important to have a stage where you can demonstrate your knowledge where you can present your expertise where you can con you know it's very important to have recordings of your sessions to have something out there that shows that you are really actively working on this this is what projects are looking for they will give you a job they will give you a position if you can demonstrate that you've been contributing for the last four years five years three years whatever to one particular Community you've been working on those projects you've been developing those tools and so on and so on okay so what is the goal whatever you choose to do but it will be best to do all of this but if you don't have time select particular areas that you want to focus on your goal would be to learn this so you would want to keep in mind you want to to apply this you won't learn to be able to apply the state-of-the-art token Engineering Process right so whether it's Discovery design deployment anywhere there and if there is something that you can do if there's something that you can contribute to this is what you want to want to do and you want to be able to create sustainable and robust economic systems so focus on the long term don't focus on something that might be attractive today but will not be attractive in one year so don't go with the hype don't try to build something that is very you know exciting but try to go back to First principles try to understand the theories try to understand the methodologies if you build a toolkit and if you build and out you know the skills and expertise that you can apply long term it doesn't matter where crypto goes in the next two to five years years because you will be there and you will be able to apply what you already know this is universal um and it's very easy to to do this if you understand that the crypto economies and web tree systems that you're working on are complex systems right so like it's there is so much to understand it's so tricky to capture if you pick out one topic that is interesting for you that is where you're where you're brilliant and you will have a spacer to to um to shine use formal methodologies which allow you mathematical modeling and mechanisms and the Quant quantitative validation so we heard today already that it's very heavy on the numerical side it's very heavy on the simulation side so if in doubt um just you know focus on modeling and simulations because this is what will eventually be very important in crypto so you will have this validation of economic designs facilitated by the numerical data that is available and you can provide your expertise to this you want to become an expert in one of those areas again ideally if you can all of them but if not choose one to start with for the discovery phase you would want to be an expert in collecting system requirements for further design to define the appropriate Point of Departure so a lot of conversations with project teams with early stage startups with early stage token designs is what do you guys really want and how do you want the system to perform and they are able to explain this maybe in business speak they are able to explain this in you know like their language that they are used to in in the Strategic or business discussions but they are not able to discuss to Define this in the term of system requirements in the terms of um Necessities for system performance that you would want to have as an engineer so your job in the very first early stage of a project in the discovery phase very often is translation between what the team is telling you from what they would want to have from a business side into formal mathematic language to be able to pin down requirements for your system components and for your system mechanisms and if you can excel at this you are already in there because you can tell them what they need to communicate to someone who is supposed to design your system and their system and even if you are not the one who is able of defining the mechanisms or building the the simulations you already know how to communicate with someone who knows and it's much more efficient if you are the expert in this you want to be able to apply first principles to design mechanisms so this is universal try to open a book open economics control theory um whatever open a book and that tells you how to design mechanisms that tells you how to design mechanisms and components from first principles understand this understand that this is universal and make sure that you are able to use this terminology and use this language in the context of the project that you're working on but you will always be able to apply first principles if you start from the start and this is nothing that some something that no one can take away from you you can also become an expert in building models and utilizing simulation Frameworks but in order to do this you kind of need the first two steps already so you need to have the system requirements and you need to have a mechanism specified and designed from first principles but this is an entry point for many people in token engineering as well so there are people who say I'm very good at coding I don't know nothing about economic mechanisms or system requirements but if you tell me what you want to simulate I can do this for you and if you are this type of person find someone who is covering the first two parts of the process and focus very much on the simulation expertise that you can build for yourself contribute to your team's success and finally once you have built the simulations you have random fun numerical experiments you want to give recommendations because this is what it's all about so if you are able to make interpretations of your results and give them to the stakeholders the system stakeholders and sufficient recommendations about design Alternatives or the impacts on system performance or the trade-offs between system goals then you can help to guide the discussion on future system design iterations and ideally those are all of the things that you should be able to do but start somewhere so many people say I don't know anything about mathematics I don't know anything about python I don't understand anything about um about systems engineering choose one of those things and become an expert in it ultimately again the process that you would want to to facilitate and you would be a part of the team that at some point you are providing your expertise to so maybe it's here with the system requirements maybe it's here with the mechanism design first principles formulations and definitions of system properties or maybe here in the numerical realm where you would run simulations and and look at the data and look at the results good what we can do now I think I'm gonna skip this because this would be emphasizing again some of the tasks that you're doing during the discovery phase um which is basically remember pinning down system requirements in the ecosystem design phase you are specifying and formulating the model and in the deployment phase you are making numerical experiments so we can skip this for now because we talked about this I want to leave you with three tools and Frameworks that I've particularly found very interesting in my work before we go to the questions from the community but please um again this is something that I found very useful it's not exclusive so it doesn't mean that we have here represented everything that that there can be so in the very early stage of my journey 2018 2019 I found very useful the token ecosystem creation handbook by outlier Ventures and this is something that I also used in my teaching at the University where I held the course on token engineering on the undergraduate level so we went through this handbook and we were discussing with the students we were discussing um the descriptions there the plans for token design different instruments and tools different theoretical Concepts and I know that many of the people or some of the people who are here today and have been presenting on the stage have also contributed to um to the writing of this handbook so this is very still useful it's a very good overview I think it has 80 200 Pages where you would you know just read through and you see many many different and applicable things for your token ecosystem design for the design phase I want to point you to a publication by sarcom insurance from 2022 where they described generalized the dynamical systems and a framework that is very helpful in understanding how to design token economic mechanisms um the point of this is to say that you are making a distinction between system movements or the mechanisms that the system can do by itself versus any behavioral assumptions that you have um underlying for your agents that are interacting with the system and this is very important because the first step of mechanism design is making sure that your system works regardless how your agents interact with your economy so if you are able to provide a framework or to understand the problem in a way so that regardless of what which actions are chosen or which strategies are pursued that your system will upkeep particular Properties or will have particular um invariant Properties or or settings then you know that your system cannot break it cannot fail and this is the first thing that you want to um to ensure when you're designing mechanisms that because you don't know how agents or the market will interact with your economy once it's out there and if you make sure that the mechanisms that you that you build cannot break in the sense of they will always have some properties then you are good to go with pursuing further how the system will evolve if particular assumptions are made about agents interactions with the system because this is what you can do in the next step and once you have defined your model once you have to find your mechanisms you can try to investigate given assumptions about agent behaviors or agent interactions with those mechanisms what the predictions about of the evolution of your system is this is also interesting and for the numerical experiments I would like to point you to two of the Frameworks that have been very prominently already presented today which is CatCat and token spice um two python Frameworks libraries that are used in simulation experiments um cadcat is supporting the GDs framework very well and the tokenspiles is supporting an evm agent-based simulations very well with this um my former part of the presentation is is over and I can I can um we can go over to the questions um if you don't mind let me just go them through some of them are already answered what are the key principles and Concepts in token engineering I hope that my talk made it clear I hope that I covered this already today I have non-engineering background Python and math is new to me can I ever become a token engineer yes if you invest sufficient time and B if you specialize on the things that do not require Python and math but eventually I would encourage you to learn this what were the challenges and Lessons Learned From token engineering projects that you've worked on challenges are obviously you know when working with startups it's always very funding constrained and there is there has not been much emphasis on token engineering over the last few years so there was not this understanding in the community that we need to model design and test and validate our systems and and understanding that has become more more and more prominent in the in the recent years when people found out that it's not only good to have a good white paper or a good implementation it's also good to understand the implications of the design choices to make sure that the systems do not fail because it isn't critical infrastructure what are the most important tools or Frameworks that you recommend for token Engineers um I covered this how do you see the future of token engineering evolving how do you see the role of a token engineer evolving in my view and token engineering will be very Central in all of the projects who are building token systems and you will see token engineering departments that will focus on design and validation and experimentation with models of the system and so there is a higher and higher emphasis of of them on the importance of of those roles in in the crypto startup what is a fair salary for a junior token engineer this is a very tricky question because it really depends on your previous work on your expertise on your willingness to work on a project how desperate are you to really transition to crypto versus and you know how much do you rely on a stable source of income and I think that just to answer this in a very diplomatic way a fast salary would be everything compared to any other engineering role if you are junior in the sense of you don't have any work expertise you can count on a typical starting salary for engineers something around 50k Maybe how can I identify the right problems to solve through token engineering I feel sometimes lost when discussion discussing with crypto projects who look for a token design and here the emphasis is on the token Engineering Process so if you're equipped with the standardized methodology and if you're equipped with the tools that you can use you can always frame the question in a way such that it helps you to make progress in the process and this is the key so learn to communicate with your clients learn to communicate with them in a way so that you can tick off the boxes in the process and make progress accordingly how can anyone practice an objective perspective of the systems we are in so that we can recognize the incentives in these systems and the behaviors chosen or automatic in response and what can anyone do with this understanding this is kind of a very tricky question because it emphasizes that the token engineer or the system designer is basically the person making all of the design decisions and um making assumptions about importance of different Alternatives already so the earlier you are in the process and the more involved you are in designing the system it's very difficult to keep this objective perspective but keeping in mind that you are the one who should optimize for something in the system design so what you then can try to do is use you want to focus back on key system purpose or Key System goals what is the System supposed to do what are the objectives what are the key metrics to measure the performance with respect to those goals and if you are able to pin those things down very well then you are not subject to any subjective decisions because you can always say those are the goals that have been articulated this is what we are optimizing for this is what we are designing for are there any specific programming languages or technical skills that I should focus on to become a token engineer for start you should you should focus on Python and solidity or add the language of the project that you that you're working on going over to e fundamentals is um it feels there is so much to learn what should my priorities be if almost everything is new to me just learn the vocabulary so if it's very complicated if you don't understand it then you have acknowledged that this is nothing that you can become overnight but it's a very good step to already start learning and understanding the vocabulary understanding the concepts understanding what it's all about and engage in discussion with fellow token Engineers to make progress on your own I think that's it so thank you so much for your for your attendance and thank you for your patience would you guys like to add an 11th to 50s question to Chris so any any questions that haven't been covered in the talk yet um yeah taking a step back what was one of the biggest anti-patterns in token design that you saw during the Ico boom and what is one of the most interesting Innovations you've seen since anti-patterns and I see album I mean this was kind of the thing when you started designing token systems in the very early stage this is by coincidence where I also entered the space 2017 2018 is that people were maximizing for profit and for sales right like this was kind of the mentality this was kind of the objective of why do you build the token system in the first place so the biggest change in paradigms over time was people realizing that tokens can have different functionalities other than raising capital and and building your systems with an eye on system performance system goals token utility and not so much the financial aspects thank you we had more questions here can we hand over the mic yeah thanks for the talk so as you're doing PhD in this like a crypto economics and may I know what are some active research areas with focus in software engineering yeah yeah what are the active areas of research areas this is very independent so I can I'm not in the position to talk about this especially because the more you dive deeper into the rabbit hole of your personal research and your personal project that you're working on you know I have such a stack of papers that I'm supposed to read and such a stack of papers that I want to read eventually so um you don't really ever get to you know understanding and all of the all of the interesting topics and interesting questions that that you should focus on I can tell you um more about problems in my work area of work but this is not related to software engineering thank you Chris for the clarity that you bring to the space I'm wondering at your University uh what department is the token engineering class taught under and also do you see a strategy for bringing token engineering to other universities yeah thank you so much this is a very tricky question because um so we had the crypto economics lab which was an individual institution at the University of economics and at the time we had five to seven members or collaborators two professors seven students two pH three phds three Bachelor so like it was very Diversified this was in 2018 2019. um what then happened is the challenge that we had was to bootstrapping this to the whole field or across all the departments at University because it's very very difficult to teach something or to talk about something where you when you don't have the proper academic Publications or papers and when the topic that you're talking about is so interdisciplinary that it's very difficult to bring everyone to the same table so what we focused doing then was a PhD seminar where we just collected papers from different directions and all of the professors from different departments could contribute with some ideas on what they would find particularly interesting in this field which was very very you know and nascent in 2018 so like there were no real publication now right now it would be it would be much much more productive um so this is how we continued our research over the years and the course that I've been I've been teaching because you asked about this um was settled under um you know in the department of production systems of one of the professors who was very willing and very interested in pursuing this further so it was basically you know personal commitment personal interest of one person who said please make a specialization about blockchain and token Engineering in my area of expertise because we can provide you with a slot to teach in this in this department and the challenge of of building uh you know token curricula or blockchain curricula token Asian curricula is that um you know the latency of what you work on you are very here today you are very at the pulls of of you know the the heartbeat of of token engineering so people who are presenting here today um are basically um you know talking firsthand for about the problems that they're solving on a very high sophisticated level but you wouldn't be able to transition this into an academic setting because there is so much more needed in Academia such that and a young science can mature you need you know peer reviews you need journals you need editors you need academic conferences you need to whole teaching programs that take up to five to ten years for a new generation of you know people to um to be developed in this field so I kind of hope that there is going to be a Synergy between the token engineering space that we that we are demonstrating here today and interested universities who will pick up on this and try to Anchor this domain in there in one of the fields because this is the easiest thing to do to say how to approach this from um you know an optimization side or how to approach it from a robotic side how to approach this from a software engineering side how to approach it from a mathematical side and then you could build up different departments that are specializing in this eventually over time any more questions I guess there are still some questions to solve for us but for today I think we are really done I mean we had such a great program we had such a great audience it was a lot of fun thank you all for coming and before you all run away let's take a picture so I'd like to ask you all on stage let's take a picture of this special day before you walk away and mark your calendar for Saturday for the bar camp but come over so thank you all for coming [Applause] [Music]