Physical money has a basic function as : a medium of exchange, a unit of account and a store of value. Likewise in the internet world is known as cryptocurrency (exchange tool) which is produced through cryptography. So far, we only know about cryptocurrency with examples of bitcoin products. But there are several another crypto that already exist but we don't know them, they are cryptotoken and cryptocommodity.
The Cryptocurrency exchange does not have a standard value reference. Reference values used based on supply and demand. As well as Bitcoin and Ethereum which often experience fluctuations in a short time, therefore it is very risky when used for exchange tools that do not cash like lending and borrowing. So it is not recommended for a fair store of value and unit of account.
The Cryptotoken is actually more directed at securing the needs of goods or services for the future, such as goods that can be enjoyed directly by users as well as electricity tokens that we can buy and save for factory costs, for example, so it is more predictable for production costs at the factory. Because of the limited use of fellow products or services so that it is limited if it is said to be a unit of account, so it is more dominant to store of value.
The Cryptocommodity, basically cryptocommodity refers to physical commodities such as gold, silver, wheat and other agricultural products that are digitalized, or commodities that are already digital, for example, server time and hosting capacity. That way, the value of cryptocommodity refers to the intrinsic value of the object, so the cryptocommodity as a medium of exchange and unit of account that complete.
So, what is BIO Token?
BIO Token is a Cryptocommodity. the value of BIO Token refers to the intrinsic value of gold.
As we know, gold and silver are essential money which throughout the ages can represent three functions of a currency at the same time, namely Medium of Exchange, Unit of Account and Store of Value.
And for the beginning of Biosphere.id, BIO Token is used for a unit of account that can also work as a utility token in our blockchain technology.