►
Description
https://www.coindesk.com/video/why-smart-tokens-could-bring-a-radical-new-digital-experience/
Could smart tokens offer a gateway for companies to create new digital ownership opportunities? Smart Token Labs Chief Strategy Officer Mathew Sweezey breaks down the opportunities of smart tokens, explaining why they could be the "key" to "create these next-era digital primitives" and also enable a "radical new digital experience." Plus, reactions to PayPal's dollar-backed stablecoin launch.
A
Our
next
guest
entered
web3
during
the
nft
boom
of
2021.
He
led
web
3
at
Salesforce,
and
now
he
sees
smart
tokens
as
a
Gateway
for
companies
to
create
new
digital
ownership
opportunities.
Joining
us
now
to
discuss
is
smart
tokens,
lab
Chief
strategy
officer,
Matthew
Sweezy,
welcome
to
the
show
Matthew,
hey.
A
B
Yeah
so
I
think
if
we
take
this
from
a
high
level
right,
we've
seen
tokens
as
currencies
and
we've
seen
tokens
as
Collectibles
with
nfts
and
with
fungible
tokens,
and
this
has
really
left
us
in
a
place
where
we're
looking
at
through
the
lens
of
D5,
really
for
us
to
get
to
the
next
era.
We
really
have
to
see
tokens
as
something
more
than
just
currencies
and
collectibles
and
see
them
as
experiences,
and
that's
really
what
a
smart
token
allows
for.
B
So
it's
really
powered
by
ERC,
5169,
Which,
smart
token
Labs
put
forth
and
it
allows
for
a
token
to
carry
executable
scripts
where
they
can
now
become
applications
themselves,
not
requiring
dapps.
Let
me
give
you
a
really
easy
example.
So
let's
say
that
you
were
going
to
sign
up
to
be
an
Uber
driver
and
you
had
to
prove
that
you
had
Insurance
well,
you
could
connect
your
nft
to
show
that
you
had
insurance
if
it
was
a
tokenized
insurance
pass.
Now,
if
that
was
a
smart
token,
you
can
connect
that
to
Uber's
website.
B
They
can
prove
that
you
have
that
insurance,
but
they
could
also
then
say:
Hey.
Listen.
We
noticed
that
you
don't
have
ride,
share
coverage
now.
This
is
where
things
get
interesting
with
the
smart
token,
because
they
are
an
experience
and
we
can
interact
with
them
directly.
I
can
now
interact
with
my
insurance
company.
Through
that
token,
and
up
my
insurance
in
that
moment,
and
really
what
we
start
to
see
is
composable
and
portable
Business
Services
as
the
new
digital,
primitive,
and
that's
really
what
smart
tokens
are.
A
B
Yeah,
so
we've
been
following
this
space
for
a
long
time
and
really
had
only
seen,
you
know,
web3
through
the
lens
of
blockchains
and
Bitcoin
right
current
season
and
then
once
I
saw
nfts.
This
idea
of
we
can
now
start
to
have
experiences,
and
that's
what
really
I
focused
on
was
this
notion
of
how
to
you
know,
technology
change,
the
relationship
between
businesses
and
consumers
and
as
I
was,
you
know,
co-leading
strategy
at
the
web3
studio
at
Salesforce?
What
I
saw
was
a
lot
of
CEOs
believed
in
web3.
B
They
believed
in
decentralization,
they
believe
in
these
ideas,
but
what
they
were
presented
with
at
the
time
was
currencies
and
collectibles
and
those
presented
too
much
risk
for
them
right.
There's
too
much
legal
risk
for
a
lot
of
companies
to
create
tokens
at
least
that's
where
their
legal
departments
are
telling
them,
and
then
the
functionality
really
wasn't
there
right.
B
They
didn't
see
how
a
currency
or
collectible
was
really
going
to
help
them,
create
a
better
consumer
experience
or
really
improve
business
efficiencies,
and
that's
what
they're
waiting
on
and
that's
why
I'm
so
excited
to
join
smart
token
Labs
is
I
believe
smart
tokens
to
be
that
key
to
enable
businesses
to
really
create
these
next
era.
Digital
Primitives,
the
ability
to
have
a
radical
new
digital
experience,
as
well
as
then
create
business
efficiencies
that
they're
looking
for.
B
No
I
think
that's
one
of
the
Beauties
here
right,
so
a
smart
token
can
be
on
chain
and
off
chain.
Now.
This
is
a
hard
concept
for
a
lot
of
people
to
understand,
but
web3
does
not
equal
blockchain.
It's
an
ethos
of
decentralization
and
individual
ownership
of
data,
so
we
can
start
to
expand
the
aperture
past
just
on
chain,
and
we
can
start
to
look
at
off-chain
Primitives
that
are
still
web
3
Primitives
such
as
attestations.
We
can
start
to
then
use
technology
that
bypasses
all
of
the
fears
that
these
companies
have
like.
Here's.
B
A
really
big
fear
that
a
lot
of
companies
have
they
don't
want
to
put
their
entire
customer
database
in
a
public
record
right.
So
they
don't
want
to
issue
an
nft
to
everybody.
They
don't
want
on-chain
tokens
because
they
don't
want
their
competitors
to
come
in
and
do
a
vampire
attack.
So
we
have
the
ability
to
start
to
think
about
off-chain
tokens.
We
can
bypass
the
notion
of
Regulation
because
they're
not
on
chain
they're,
not
a
security.
A
B
I
mean
I
think
the
easier
we
can
make
it
for
somebody
to
get
a
token
in
their
hand.
The
better
I
mean
I,
still
I'm
still
worried
that
my
mother's
not
going
to
crypto
it
doesn't
matter
if
PayPal
makes
a
crypto
coin,
she's
not
going
to
crypto
I
think
what's
really
going
to
drive
Mass
adoption
is
when
we
can
move
past
D5
for
the
individual
consumer
can
start
to
see
how
tokens
create
better
experiences
in
their
daily
lives.
B
A
All
right
and
now,
let's
talk
I,
just
I
I-
want
to
hear
from
you
what
what
are
the
challenges
with
smart
tokens?
We
talk
so
much
about
how
it's
so
difficult
to
get
users
into
the
space
to
educate
them.
Now
we
have
this
whole
New
Concept.
That
brings
us
away
from
from
nfts
how?
How
are
you
thinking
about
educating
people
on
on
Smart
tokens
and
making
that
differentiation
between
nfts
and
smart
tokens.
B
Is
people
have
the
idea
that
a
token
is
security,
a
token
of
securitization?
They
don't
understand
the
concept
of
token
as
an
experience,
and
so
that's
where
really
educating
people
on
is
ERC
5169.
What
that
enables
a
token
to
do
and
then,
when
we
start
to
then
think
of
tokens
as
experiences
tokens
can
be
anything
from
receipts
to
you
know
attestation
of
an
airline
ticket-
and
this
is
one
of
my
favorite
examples-
is
helping
people
understand
what
we
mean
by
tokens
as
a
portable
and
composable
business
service.
So
take
the
idea
of
an
airline
ticket.
B
You
get
an
airline
ticket
and
we,
you
know,
issue
a
smart
token
along
with
that
ticket
and
that
smart
token
is
going
to
say
all
of
them
metadata
about
your
flight,
what
status
you're
flying
when
you're
flying
how
you're
flying
now?
If
we
then
start
to
think
about
this
as
a
new
digital,
primitive,
now
follow
through
that
travel
experience,
we're
now
going
to
go
book.