The SEC is studying the effects of distributed ledger and other innovative technologies and encourages market participants to engage with us," said SEC Chairman

The SEC is studying the effects of distributed ledger and other innovative technologies and encourages market participants to engage with us," said SEC Chairman Jay Clayton Then it's a no-brainer to test whether it's possible to make a non-security token that still retains some of the benefits of crypto tokens. I am working on a crypto token designed to avoid the bad incentives and legal issues with current ICOs that might make a good test case: * Token provides immediate practical benefit (collaboration on important data using distributed storage, narrowing focus from Sia, Storj, Filecoin, etc) from day one * Token sold in small tranches over an extremely long time period, ideally at stable price * No intermediate ERC20 or similar token pre-sale * Pre-mined tokens (eventually sold) make up small fraction of total supply For the Howey Test, I think it's most reasonable to aim for either no expectation of profit or no common enterprise. If anyone is interested in helping test this, contact me!