Token Economy Incentive Structure Conceptual Goal Model

A token economy provides a means of exchange for system users to redeem different products and services. It is seen as a fundamental aspect of a blockchain-based project. The success of such an exchange is dependent on understanding the incentive structure for its users. The paper proposes a conceptual goal model for a token economy incentive structure (TEIS). This was accomplished by completing a narrative review of existing literature obtained from various academic databases. The findings of the review result in a five-step TEIS goal model that includes identifying stakeholders, token economy function, identifying desirable behaviours, identifying monetary or non-monetary incentives, and choosing the appropriate type of incentive mechanism. Future research will incorporate technical implementation of the proposed TEIS and its legal implications.