The token economy is a form of decentralized digital economy with the support of blockchain. In the token economy, the responsibility, rights and interests in the real economy can be solidified on the blockchain to form true digital commitments with consensus, tamper-resistance, traceability and verification. These commitments can not only enhance the mutual trust between economic entities, but also realize the isomorphism of real economic activities and digital economic activities. Furthermore, they are conducive to improving the protection of property rights, strengthening the market's allocation of resources, realizing the fair distribution of benefits, strengthening the government's penetrating supervision, and creating a mutually beneficial business environment. Therefore, the token economy is expected to become a new form of digital economy with mutual trust and collective governance. To better illustrate the token economy, this paper introduces the concepts of blockchain, token and token economy, presents the reason why token economy could create a new form of digital economy with mutual trust and collective governance, and finally advances some suggestions on how to develop the token economy.