Tokenization, blockchain and web 3.0 technologies as research objects in innovation management

• Published in: International Journal of Innovation (São Paulo) 2022-01, Vol.10 (1), p.1-5
• Main Authors: Mazieri, Marcos Rogerio, Scafuto, Isabel Cristina, da Costa, Priscila Rezende
• Format: Article
• Language: English
• Subjects: blockchain; innovation management; Tokenization; web 3
• ISSN: 2318-9975; 2318-9975
• DOI: 10.5585/iji.v10i1.21768

The e-mail allegedly attributed to Satoshi Nakamoto (supposedly a pseudonym) was transmitted 14 years ago, describing the development of an electronic currency (Nakamoto, 2008). The design of this electronic currency represented the solution of the general Byzantine problem, a well-known problem in computing, which, in general terms, defines that one of the parts of a system can intentionally fail, and with that, make the entire network unavailable. Therefore, the premise is that part of the system is corrupt (Dolev et al., 1982). In the few lines of the email, Satoshi Nakamoto described such a solution and published an article with the details made available on the same date. The article describes how to transmit information within a chain of blocks that are: synchronized with date and time (time stamp); combined with code that depends on a previous block (hash code); can be validated with public and private key cryptography framework anonymously and decentrally; but highly resilient to any tampering attempt and with public record. The concept of digital currency, in this case Bitcoin, consisted at that time of a code or token resulting from encryption and that could be included in these blocks. Blocks registered definitively in the ledgers distributed along the blockchain network that could be traced. The digital framework developed by Satoshi Nakamoto, although it emerged to make Bitcoin viable as a digital currency, has been separated over the last 14 years. Blockchain can be understood as a decentralized communication technology that gave rise to a family of other technological structures of encrypted communication such as ecosystems, public blockchain, private blockchain and blockchain networks, mainly (Mazumdar Ruj, 2022). Digital currencies, on the other hand, have also developed in variety and quantity, so much so that as we write this editorial there are over 10,000 digital currencies in operation. The total capitalization value of digital currencies rose from USD 18 billion at the beginning of 2017, surpassing USD 1.4 trillion by mid-2021 (Su et al., 2022). Currently, there is no technological impediment for companies to create their own digital currencies using a Bitcoin network or an Etherium network, for example, as well as many other networks available.Obviously, even today, there are technical challenges related, mainly, to the scalability of these networks and currencies. Bitcoin, when created, had a capacity of 7 transactions per second,