The record itself: an ordered list of entries that is appended to and not edited. A chain is one way to keep a ledger that several parties can check without trusting whoever holds it.

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CLARITY Is Not About "Legalizing Tokens"—Here's Why the Industry Still Needs It

OpinionAug 7, 2026

CLARITY Is Not About "Legalizing Tokens"—Here's Why the Industry Still Needs It

CLARITY is not a pass for anything labeled a token. It is an attempt to distinguish a real right, a resource claim, and market activity from a label. The bill is still pending, and that distinction still has to prove itself.

OpinionAug 7, 2026

A Useful Token Must First Stand for Something of Real Value

AI services already use credits to meter storage, compute, and API calls. As Agents begin to act across systems, the important work is not giving those units a fashionable name. It is making the rights, authority, and usage they represent possible to verify and reconcile.