Assign Onward (Ⓐ) is focused on small, possibly short lived, blockchains owned and operated by individuals and small business entities
*This is not to say Ⓐ will not scale to larger applications, just that it is focused on solving problems associated with smaller entities first.. As such, how can an individual assess their valuation of another individual's blockchain issue? Even though the blockchain may be new, if it is controlled by an established, possibly familiar, identity - that can go a long way toward establishing trust, and thereby value in the tokens represented on the chain.
Can you trust an anonymous identity? A new completely unknown anonymous identity could come from literally anywhere in the world with internet access. Any value you transfer to the control of this anonymous identity might vanish, immediately or at any time in the future, and never return anything of value to you. In short, no, you can't trust a completely anonymous identity.
However, what if the identity has a trading history? What if the identity in question has been trading with identities you do trust for some period of time? How much value has been traded? For how long? How much value does this identity openly own on known/trusted blockchains? How much income does this identity derive from performing trusted exchanges with others? How much do they have in escrow that they would lose if they were shown to be acting fraudulently? All of these factors serve to establish some value in that identity, income that the identity wouldn't be getting if it were not trusted by its trading partners. In short, that identity is valuable to whoever is controlling it. If that identity were to engage in fraudulent or otherwise untrustworthy activity it would be putting future income at risk. You can, in fact, trust an anonymous identity to protect its future income by dealing fairly with you. If the identity were to make demonstrably fraudulent moves, such as double spend of tokens they assigned to you, they would be risking the value of their established identity. On rare occasions, people behind anonymous identites might choose to do this, but it would be a rare event, a one-time gain forsaking all future income under the identity, and if the fraudulently acting anonymous identity is tied to other identities, their reputation and value may also suffer. So, life is risk, but some risks are safer than others, and small transactions trusted to anonymous, but demonstrably valuable, identities should be relatively low risk.
8 November 2021
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