Answering crypto investor questions: What are PBL and BOOK tokens?
In this post we are going to answer the question many cryptocurrency investors are asking and explain what are PBL and BOOK tokens in the Publica ecosystem, and what is the difference between these tokens.
There are two types of tokens used in the Publica ecosystem, let’s cover PBL tokens first.
What is a PBL token? Why do you need it?
PBL tokens or Pebbles are the Publica platform’s internal currency. Readers need PBL tokens to contribute to Book ICOs hosted on the Publica platform or to purchase any book that is listed in Publica's online catalog.
Authors sell their books and get paid in PBL tokens. Earned Pebbles can be exchanged for any other cryptocurrency or fiat money on cryptocurrency exchanges, thus authors have full control over their finances.
What are BOOK tokens?
Publica is the first project to tokenize books. We turn ebooks into cryptocurrency. This means that every book that is published on the Publica platform becomes an indivisible BOOK token.
Although we call all tokens that represent access to content as “BOOK tokens”, technically every book that has been published on the Publica platform has its own, unique token. It means that every time an author creates a new Book ICO campaign or adds a new book to Publica’s online catalog, a new ERC20 token with a unique ticker (name) and smart contract address is being created. For the sake of convenience, we call all such tokens - “BOOK tokens”.
Publica’s BOOK tokens have one unique feature. Once the tokens are in your Publica app, you can also read them. That’s right, read your tokens! Publica’s app for Android and iOS has an embedded cryptocurrency wallet that is coupled with an e-reader and BOOK tokens serve as the access keys to literary works. If you have any BOOK tokens on your wallet - you can read their corresponding books on Publica's app.
For example, if you have bought one copy of Jules Verne’s “Around the World in 80 days” in Publica's online shop, you will receive one token called “READ Token Around the world in 80 days” and a ticker READ_JVATWI8D. And if you have bought Sukhi Jutla’s “Escape The Cubicle”, you will receive a token called “READ Token Escape The Cubicle: Quit The Job You Hate. Create A Life You Love” with a ticker READ_SJETCQTJYHCALYL”.
Both tokens, mentioned in the example, are so-called “BOOK tokens”. When you have such token in your wallet, it grants you access to the book’s contents in Publica’s e-reader app. It is possible to buy multiple copies of the same book, in this case, you will receive multiple BOOK tokens in return.
If you want to send a copy of “Around the World in 80 days” to a friend, you can simply send a BOOK token to your friend's wallet address and you will no longer have access to the book (since you will no longer have READ_JVATWI8D token on your wallet), but your friend will be able to read the book right after receiving the token.
You can buy any BOOK token that is listed on Publica with Publica platforms' currency - Pebbles.
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