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From YouTube: Weiwu Zhang - Unique Value of Tokens | EDCON2023
Description
Weiwu Zhang, Co-Founder & CTO at Smart Token Lab, joined us at #EDCON2023 and shared his insights into the unique value of tokens from an integrated web. Weiwu says today’s web thrives on integration with most of the web pages today usually having 3 integrations, including login (like Google ID), payment (like Google Pay or Paypal), and social network (like Twitter), which are provided by today’s Internet leaders like Facebook, Apple, and Google. He believes today’s web has big challenges beyond centralization, such as users must rebuild their reputation on an e-commerce website due to a lack of integration between websites. Integration has stunted the growth of Web2.
Weiwu believes that the solution is to tokenize the functionalities of the websites and the digital rights of the users, which means tokenizing everything and making everything a token. This is not the token we typically talk about (like collectibles or ERC-20). It’s the smart token where tokens can serve as integration points for the websites to be fully integrated. He explains that an email account can be a token, social media posts can be a token, diplomas & credentials can be a token, etc. When everything is a token, limitless integration is possible. He emphasizes that a connecting layer or smart layer that sits between blockchain and websites is needed to connect blockchain and integration points and allow token code to execute within web2 and web3 environments. In addition, smart tokens enabled by Smart Layer will serve as the connecting rod between AI and the Web. Weiwu believes that smart tokens can power the next generation of AI. SmartLayer is comprised of Smart Tokens, powered by TokenScript, running on a distributed network, and SmartLayer use cases are supported by AlphaWallet, which is a TokenScript compatible agent. You can learn more about AlphaWallet and how it enables advanced SmartLayer use cases via Weiwu’s presentation at EDCON 2023!
About UETH:
De University of Ethereum (UETH) is a non-profit organization dedicated to blockchain education for all. Our mission is to bridge the gap in access to blockchain education, increase digital literacy, and promote shared prosperity. We strive to empower future leaders to reach their full potential and tackle uncharted space confidently through accessible education.
Website: https://ueth.org/
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Telegram: https://t.me/UETH828
A
A
A
A
This
is
quite
a
contrast
with
the
web,
one
era
where
the
users
go
to
web
pages
and
you
when
the
user
goes
a
website.
They
only
see
content
of
that
specific
website.
Today,
it's
really
difficult
to
build
a
website
without
integrating
some
of
these
features,
and
these
Integrations
are
provided
by
today's
internet
leaders
like
Facebook,
Apple
and
Google.
A
They
are
able
to
do
this
because
web
was
designed
without
a
authentication
layer
without
a
payment
layer
and
without
a
user-to-use
interaction
layer
and
the
centralized
Central
points
of
internet
today,
Google
and
Facebook.
They
have
filled
the
Gap
provided
this
service
and
that's
how
they
became
the
center.
A
Now
we
have
not
been
able
to
fully
integrate
the
web
for
the
maximum
user
experience
and
the
the
growth
of
the
web.
So,
for
example,
today
we
still
cannot
a
user
who
have
a
reputation
on
the
website
still
cannot
take
their
reputation
to
a
new
website
if
they
logged
into.
If
they
create
a
Content
e-commerce
website,
they
still
have
to
gain
their
reputation
from
the
beginning.
That
is
because
the
websites
are
not
integrated.
A
The
user
is
able
to
download
their
reputational
data
from
the
old
website,
but
they
are
not
able
to
upload
it
to
a
new
website,
because
it's
just
data,
it's
not
an
integration
between
the
websites
and
another
example,
is
today's
music
fan.
They
will
struggle
to
provide
their
loyalty
to
a
prove
their
loyalty
to
a
concert
ticket,
because
the
ticketing
website
is
not
integrated
with
their
fanbase
website,
so
go
inside
the
into
the
iot
Internet
of
Things.
A
A
A
Similarly,
if
if
your
YouTube
or
Spotify
streaming
services
integrated,
then
they
should
know
that
you
are
on
your
way
to,
for
example,
Puerto
Rico,
but
Paul
Rodriguez,
and
you
should
they
should
be
able
to
prepare
some
content
for
you
to
enjoy
on
the
way.
So
these
Integrations
are
not
here
today
and
we
have
barely
had
any
more
Integrations
than
the
basic
three
things
login
checkout
and
social
media
ever
since
web
2
was
created.
That
is
because
integration
is
very
challenging.
A
So
the
challenge
of
the
integration
comes
from
is
complexity
today
in
web
2
world.
If
two
websites
wants
to
integrate
if
web,
if
website
wants
to
integrate
third
party,
they
typically
do
this
through
a
back
office
connection
where,
for
example,
the
visa
application
website
will
have
a
back
office
connection
to
the
airline
and
first,
this
is
permission.
A
A
Given
all
this
trouble
today,
websites
became
practical
and
they
limit
themselves
to
integrate
only
three
things:
the
social
media,
the
login
service
and
checkout,
but
integration
can
grow.
Currently,
integration
has
done
the
growth
of
web
2..
The
solution
to
go
forward
to
have
this
level
of
integration
I
described,
is
to
tokenize
the
functionalities
of
the
websites
and
the
digital
rights
of
the
users.
A
This
Means
tokenizing
Everything,
making
everything
online
a
token-
and
this
is
not
a
token.
We
typically
speak
about
like
Collectibles
or
erc20-
is
the
Smart
client
token,
where
the
token
can
serve
as
integration
points
for
the
websites
to
be
fully
integrated.
So
examples
like
email
account
can
be,
can
be
a
token.
A
social
media
post
can
be
a
token.
A
social
media
light
can
be
a
token.
You
can
use
that
to
prove
that
you
are
liked
and
diploma
of
course,
credentials.
Credit
score.
A
Carbon
offset
token
that
you
probably
can
earn
by
install
solar
panels
in
your
roof
and
use
that
to
buy
airplane
tickets,
hotel
booking.
As
we
mentioned
it
can
be
a
token
you
can
buy
hotel
booking,
sell
them
and
integrate
that
with
Airline
airline
tickets
and
gym
membership.
Everything
can
be
tokenized
when
everything
is
a
token
Limitless.
A
This
cannot
be
achieved
by
blockchain
alone,
because,
although
blockchain
provided
the
basis
for
smart
tokens,
it
provides
a
trustless
method
for
token
logic
via
Smart
contracts.
It
will
ensure
that
the
user
who
claimed
the
owner
of
the
token
actually
owned
the
token
the
tokens
are
transacted
according
to
the
rules
and
issued
according
to
the
rules,
but
it
itself
is
not
a
service
network.
A
A
It
allows
token
code
to
execute
within
web
2
and
web3
environment
with
the
smart
layer,
tokens
Can
Be
accounted
for,
issued
revoked
and
expired
with
a
set
of
API.
So
one
way
to
look
at
it
is,
if
you
create
a
smart
token,
you
will
create
smart
contract
for
it,
as
well
as
the
code
that
serves
additional
API
call
and
the
code
to
dictate
how
the
token
should
behave
in
the
user's
wallet,
protect
users,
privacy
and
interact
with
the
web.
A
So
smart
layer
is
the
integration
layer
needed
for
the
next
web,
but
it
needs
to
provide
a
few
more
several
guarantees
not
afforded
by
the
blockchain
at
the
moment
like
ethereum.
It
needs
to
be
built
on
top
of
ethereum,
as
it
is
need
to
handle
a
large
amount
of
traffic,
as
every
user's
post
can
potentially
became
a
traceable
token.
Yet
it
cannot
record
all
of
the
data
on
the
blockchain
directly
to
ensure
privacy.
A
Usually
a
token's
proof
is
installed
on
the
blockchain
and
the
the
actual
token
itself
works
in
the
layer,
and
he
needs
to
respond
to
calls
from
web
services
that
relies
on
it
in
a
trusted
way,
which
means
if
a
web
2
website
access
the
API.
Any
of
nodes
should
be
able
to
provide
to
answer
the
call,
and
it
should
be
assumed,
trusted
and
verifiable
by
the
blockchain.
A
It
will
act
similarly
to
how
Google
API
acted
as
integration
point
for
today's
web,
except
that
the
number
of
types
of
API
call
are
designed
to
designed
to
and
expected
to
Skyrocket
as
people
continue
to
discover
new
tokens
and
Define
new
use
cases
for
them.
So
what
it
means
is
that
with
smart
layer
is
going
to
work
differently
than
Google.
If
Google
is
going
to
support
Smart
Car
T,
Smart
Car
key
as
a
new
type
token,
they
will
probably
roll
out
new
API
call.
A
They
will
say
that
if
the
user
use
Google,
Wallet
and
version
above
3.8
or
something,
then
you
can
put
smart
car
keys
into
that
wallet,
but
you
cannot
design
smart
layer
in
the
same
way.
You
cannot
say
smart
layer
version,
3
supports
Smart,
Cars,
Smart
layer
version,
3.1
supports
Fringe,
smart
fridge
and
smart
version,
a
smart
layer
version,
8
support
Jones.
You
cannot
do
this
because
every
time
when
new
token
is
created,
new
API
call
is
created
and
the
whole
network
has
to
adapt
with
it.
A
A
So
this
is
what
we
have
been
working
on:
smart,
smart
token.
Labs
has
been
working
on
Smart
layers
for
smart
for
smart
tokens
for
six
years.
We
have
the
token
scripting
framework
called
token
script,
and
it
has
been.
We
have
been
using
this
technology,
a
lot
of
experiments
as
well
as
practical
cases.
A
For
example,
we
have
been
using
the
same
line
of
technology
for
devcom,
as
well
as
this
adcon,
where
the
ticket
holders
can
get
their
ticket
attestation
through
email
that
allows
ticket
holders
to
access
perks
and
other
websites
as
a
ticket
holder
without
that
website.
Having
the
back
connection
with
Adcom
that
is
already
working,
but
today
we
are
building
the
smart
layer,
the
decentralized
network
that
enables
further
integration
and
driven
by
a
token
Economy
based
incentive
mechanism
where
nodes
will
meet
the
service
level
objectives
that
we
defined
for
these
Integrations.
A
So
so,
basically,
that's
the
core
thing.
I
want
to
share
today
and
that's,
but
that's
not
all
today,
people
the
way
people
use
web
will
be
largely
Changed
by
AI,
and
it's
possible
that
in
the
future
that
we
don't
even
use
web
is
the
AI
agents
who
are
using
Ai
and
that
presented
unique
challenges
for
intuition.
A
So,
let's
take
example
as
an
AI
take
AI
travel
agent,
as
example.
Let's
say
that
you
travel
to
somewhere,
you
want
to
change
your
travel
destination
halfway.
Your
AI
travel
agent
needs
to
find
new
hotels,
find
new
routes
find
new
new
locations,
but
today's
AI
couldn't
do
this
because
they
cannot
log
in
to
booking.com.
They
cannot
purchase
train
tickets
and
they
cannot
share
itinerary
on
social
media.
A
Now,
if
we
adopt
the
traditional
backhand
backhand
integration,
that
means
users
need
to
log
into
booking.com
and
get
API
key
and
give
it
to
the
AI
and
then
go
to
a
trading
website
or
social
media
website,
get
API
key
and
give
it
to
the
AI.
But
that
is
that
is
like
ritual
faithing
new
technology
with
the
existing
solution.
If
booking
hotel
reservations,
train
tickets
and
social
media
accounts
can
be
tokenized,
it'll
be
very
different,
because
AI
is
able
to
present
a
plan.
A
So
if
user
confirmed
all
these
actions
with
the
private
key
AI
would
purchase
tokens
for
each
action
item
and
it
will
not
need
to
obtain
API
key,
because
you
have
the
control
over
your
crypto
key
and
you
can
purchase
hotel
as
a
new
token
purchase
instead
of
logging
into
booking.com,
and
what
we
get
from
tokenized
access
is
that
it
allows
better
control.
So
the
AI
will
not
have
a
permanent
access
to
a
social
media
account.
It
will
only
have
access
to
social
media
account
during
this
session.
It
will
not
have.
A
It
will
not
be
able
to
randomly
book
wrong
hotels
for
you
simply
because
it
has
the
API
key
and
the
result
is
going
to
be
tokens
in
your
wallet
that
you
can
observe
instead
of
being
controlled
by
the
AI.
It's
in
your
wallet,
you
can
use
it
and
it's
possible
to
create
underfly
use
cases.
So
by
that
what
I
mean
is
typically
when
you
use
a
mobile
app,
it
have
a
few
use
cases
and
it
has
a
few
Integrations.
A
It
connects
to
a
few
different
parts
of
the
internet
and
the
service
delivers
delivered
objective
of
the
users,
but
AI
is
able
to
almost
dynamically
generate
applications
based
on
use
cases
and
third
token.
They
are
able
to
connect
to
Old
needed
Services
directly
without
going
through
account
integration,
so
that,
in
that
way,
AI
will
be
able
to
further
AI
will
have
a
higher
requirement
on
integration
and
with
smart
layers.
We
are
going
to
be
to
to
to
to
to
to
get
a
this
new
level
of
web
integration.
A
So,
in
short,
a
smart
layer
is
a
total
utility
layer
for
web
2
use
cases,
and
it's
comprised
of
smart
tokens
powered
by
technology
such
as
token
script
and
the
resin
the
distributed
Network,
and
it
is
incentivized
by
talking
economy
that
was
already
proven,
working
in
ethereum
and
virus
decentralized
projects,
so
I
think
that's
it
and
I
have
about
one
minute.
Is
there
a
question
session
or
no
yeah?
If
anyone
I
can
probably
answer
one
question,
if
anyone.
A
Yes,
a
very
good
question
and
then
I
only
have
15
seconds
to
answer
that.
So
currently,
business
and
brands
have
difficulty
to
reach
customers
because
they're
customer
base
is
siled.
So
the
first
thing
that
in
token,
this
new
smart
layer
enabled
is
to
allow
business
to
work
together
for
one
class,
one
company
to
access
the
customer
base
of
the
other
one
through
commercial
agreement,
so
that
will
open
doors
for
new
marketing
methods.
A
Previously
it
was
difficult
because
you
need
to
link
the
account
of
the
user
from
Brand
a
to
a
kind
of
user
of
brand
B.
But
if
you
tokenize
that
you
can
program
the
logic
and
it
will
be,
there
will
be
a
lot
of
new
marketing
methods
available
for
them.
That
will
give
users
more
opportunities
to
play,
and
you
can
have
new
smart
contract
rules
where
users
can
get
perks
from
Brands.
They
can
probably
burn
them
for
cash
or
they
can
probably
use
it
for
interesting
games
so
that
marketing
I
think
will
be
the
starting
point.