Smart Token is a programmable blockchain-based entity that encapsulates business logic, enabling complex interactions with various systems and other tokens in a self-contained, interoperable format.
Traditional blockchain tokens enabled ownership without a custodian and enforced transaction rules. But they were not designed to replace internet centers like Facebook, Google, and Apple, or to enable the next generation web. This is where Smart Tokens come in.
Smart Tokens are programmable and based on blockchain. They hold the business logic of a token in a self-contained, interoperable format. They interact with different environments and execute their code within them. This makes Smart Tokens potential replacements for traditional internet centers, paving the way for the next generation web interactions.
The web thrives on integration. Internet centers have been the enablers and limiters of the integrations that could happen. Smart Tokens offer a new approach. They carry information and functionality. They can represent a wide range of assets and rights and execute complex interactions with other tokens and systems.
Traditional blockchain tokens can be traded without centralization; Smart Tokens retain this character. This not only makes them more useful but also introduces a new dimension to the concept of rights. When rights are tradeable, they often become linking points themselves, expanding the potential for integration.
In conclusion, Smart Tokens are more than just blockchain-based entities. They are the linking points, the units of integration, and the tradeable rights that could shape the future of the web. As we continue to explore and understand their capabilities, we are likely to see a shift towards a more integrated, decentralized, and user-centric digital world.