At the end of January blockchain consultant and former Coinbase lawyer Reuben Bramanathan has created an Ethereum-based personal token that can be redeemed as a consultant hour with him.

The token was called Counsel (CNSL) and it is available on the decentralized exchange Uniswap. At the end of the first week of this new way of charging clients, he reported 14 unique token holders and 2 redemptions:

“It was great to see some initial demand for the token, and I especially enjoyed chatting with the two new clients who redeemed their CNSL this week”

In his blog post, he has revealed the first findings about new experience, highlighting the need to “carefully manage liquidity” to prevent disastrous price volatility, and the necessity for a bunch of useful tools to make it all happen and a general need for simplification:

“If we want to give personal tokens a real chance to succeed, we still need to make it easier to issue, manage, and redeem them, and enable more efficient price discovery”

Being a lawyer, he also promised the audience to explore further the legal aspects of this “interesting example of cryptoeconomic primitive” that “both represents an individual, and coordinates the flow of information and value to, from and around the individual”.


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