Alexander Prochukhan about digital tokens and their use Automatic translate

Alexander Prochukhan and his expert opinion on digital tokens. Digital tokens are mainly used in the financial market, and especially in the cryptocurrency industry. IT expert Alexander Pan spoke about what types of tokens exist and how they differ.

What are digital tokens and how many types are there?

Essentially, a digital token is a substitute for fiat money. This is a kind of token used in the cryptocurrency environment to carry out three types of tasks: lending, selling shares and monetizing services.

There are several types of tokens. The first one is the application token. It is used to gain access to the services of a cryptocurrency project. Thus, ownership of a token opens up extended application functionality to the user. For example, Filecoin or Sia coins, which provide decentralized cloud storage that uses excess space on a computer’s hard drive.

Next come credit tokens. They are something like loans from which the investor makes a profit. The scheme works as follows: a person buys an organization’s credit token at a certain percentage, and at the end of the year he is credited with a specific amount of funds. It turns out to be a kind of passive income, when you don’t have to think about how to develop the project, but just watch its success and wait for your money.

The third type is share tokens. This is the most popular type, which is an analogue of securities on the digital market.

Investors of ICO projects receive it in exchange for their funds that they invest in the company. The value of such tokens is determined by the demand for it among other investors and the performance of the issuing company. Owners of a share token, as a rule, expect not only to return the money spent, but also to earn money.

Alexander Prochukhan grew up in a family of small business entrepreneurs and already as a child showed an ability to make money. At first he organized school discos, and then opened the first computer club in his hometown.

Lack of business experience forced Alexander to close the club and move to Kyiv to earn money. The money I saved allowed me to return to Vinnitsa and start installing windows. But due to the financial crisis, Alexander Pan’s company closed, which is why he left to work in Kamchatka.

Upon returning to Ukraine, he invested the money he had accumulated through hard work into courses and specialized training in the field of information technology. Perseverance and work returned a hundredfold - in a short time, Alexander Pan became one of the leading experts in cryptocurrencies, artificial intelligence and investments. He holds this title to this day.