Check out the link of you want to learn more about Numeraire. It is pretty wild!.
Every now and then, we get new words in media that sound very odd at firdst and then go mainstream. I recall, for example when I first read about Wifi. Wifi? Right. You know, the wireless protocol. When I first heard of it, I thought it strange.
We are just now getting some new words that I think will go mainstream. They are blockchain and ehtereum. Blockchain is a technology. Ethereum uses that technology to offer us some cool new stuff. Sort of like the how the web uses the interent to enable me to transmit this blog post to you now.
Ehtereum can be used for lots of stuff. But its most easily understood use is to create e tockens. Tokens are somewhere between a coupon and a share of sock. They are a coupon that enable you to do something by owning it. They are a share to the extent that you can trade your tokens.
Why do we need tokens? Tokens create a new channel to make exchanges. To get this — think of Kickstarter. It is a great platform where people with ideas can ask for funding from folks who are looking for new ideas. If you like the idea, you pay in, and you get a prize. It works. Tokens take this a step further. Instead of paying in for a prize, you pay in for something that is a prize and that can be traded for money. In other words, you get to share in the appreication of the great idea.
This is very new — so hold onto your hats! No one really knows where it will go!