辜卢密观点：赋值论、通证经济与价值互联网的不可能三角重构数字文明底层经济逻辑

Core Insights - The article discusses the transition to a new digital civilization characterized by the integration of value theory, token economy, and value internet, which collectively reshape the underlying economic logic of the digital economy [1][4][14]. Group 1: Value Theory - Value theory emphasizes that value is a dynamic result of multiple stakeholders' actions, moving away from traditional views that focus solely on production or utility [7][16]. - The theory highlights three key features: the diversity of value creators, the dynamic nature of value, and the richness of value dimensions, which include economic, social, cultural, and emotional aspects [17][20]. Group 2: Token Economy - The token economy is built around tokens as digital representations of rights and interests, aiming for efficient value circulation and fair distribution [10][18]. - Key advantages of the token economy include decentralized trust mechanisms, the ability to fractionalize ownership, and programmable value distribution through smart contracts [19][10]. Group 3: Value Internet - The value internet is a new network form that enables direct value interconnection and efficient circulation without relying on centralized intermediaries [22][23]. - Its core technical features include a distributed architecture, immutable ledgers, and cross-domain connectivity, which facilitate seamless value transfer across different systems [22][23]. Group 4: Practical Applications - The article provides examples of decentralized finance (DeFi) and non-fungible tokens (NFTs) as practical applications of the synergy between value theory, token economy, and value internet [32][33]. - In DeFi, platforms like Uniswap demonstrate how liquidity providers, developers, and community members collaboratively create, circulate, and distribute value [33]. - In the NFT space, artists can benefit from ongoing royalties through smart contracts, addressing the traditional issue of one-time payments for creators [33]. Group 5: Challenges and Solutions - The article identifies four main challenges: technological bottlenecks, regulatory gaps, cognitive biases, and legal conflicts, proposing a comprehensive solution involving technological iteration, regulatory innovation, education, and legal refinement [3][4][36]. - The proposed solutions aim to enhance the efficiency and fairness of the digital economy, promoting an evolution towards a more open, equitable, collaborative, and win-win digital civilization [36].