Thoughts on Tokens
Balaji S. Srinivasan

From this reading and following the recent announcements from the SEC. I see clearly 3 types of tokens:
1. Tokenized Securities: where US investors need to be accredited investors
2. Utility tokens: which are the one you compare to an API key
3. Cryptocurrencies: coins like Bitcoin, Zcash or Ethereum that are the product of a mining activity