Block Zero Stage | Token Centric Architecture

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1. 0:00

   um next up please welcome weu from Smart token Labs we will tell you all about um smart toonomic design architecture it's here okay so how do we go forward and back okay shall shall we start or waiting for someone no okay so hello everyone uh my name is Wu I'm the C of um smart token Labs um in smart token Labs we make token smart because by providing a uh programming framework to enrich the functionalities of tokens and we have been doing this technology for

2. 1:05

   six years uh we have um tokenized for example smart car keys where the users blockchain token can be connected with their smart cars and allow them to open and drive the car and we have done like um uh smart um tickets where the take could holders can get perks by owning the tickets in their wallet so and this k k this cat is nft it is also a smart token so there's a story behind this um nft smart token so we have worked with

3. 1:52

   the industrial Partners to tokenize Smart Cars we give it to a test group of car owners we have tokenize FIFA tickets we give them to a small section of FIFA ticket holders so they can book hotels this the functionality we have done for them and we think ask ask ourselves that if we can do this to different types of tokens why don't we do this to the nft why don't we everybody's talking about gamification why don't we combine

4. 2:23

   our technolog and gimify nft tokens so that was the experiment that we started um a while back and uh the way we did it is we make a smart cat token an F token loaded with smart token functionalities gamification and we invited our two and a half million users to me these tokens and play with it and it was a great success um within two weeks we got uh 9,000 and 25 thou 925,000

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   users who minted their smart cat token and this makes us the largest uh the nft projects with largest user base as well as the largest nft game and in the two weeks when this was being minted um we have been the five days in a row being the top nft uh project in polygon Network so how do we do that so this is smart cat that is a smart token and smart token is the game here we allow the token to carry executable scripts in JavaScript and HTML we allow that to run

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   in users wallet and on any website doesn't have to be um token itself is a DA we don't make it D website for that we turn the to token into the dep and we enabled a lot of functionalities so the driving technolog here is token script which is a scripting framework that we have been building for the last six years it allows token issuers to enrich token with information with rules with user

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   interface with data and we have this um ERC 5169 which is a blockchain smart contract feature that connects smart contracts with the token script that connects the functionality of tokens with the smart contract itself so with that we can build functionalities like enabling gaming actions to be on chain and operate directly in user's wallet in this case level up there are three ways to level up the cats and we make them we make games around it we we we make the cats starve and you have to

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   feed the cats and uh users can clean their cats and get a bit of reward points so we did all that and we did something that quite Advanced that only our technology can do we allow out token to token messages and that's the first time in the world we previously had wallet to wallet offchain messages but now we can develop this functionality into the token because of our scripting framework and why do we need that because if you are playing the game your

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   character talks to other characters not your account talk to other people's account so cats can talk to each other and they can play games like invite other invite other cats for play date so this is a demonstration of what we already allow our users to use a Smart token enhanced nft token but that is only part of the picture so today there are roughly 3% 2% to 3% in a rich country like United

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    States two to 3% of people holds nft tokens that's not a large number because nft tokens associated with collection investment and gaming it might might grow but it might not grow a lot most of the users using internet are using using internet for the Practical reasons like booking a hotel or booking Uber where the power of my token really lies is to make tokens an integration point that enables user to use internet

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    in a Way Beyond today's infrastructure allows so let me take example of um car token if you consider car token as a asset you can create a blockchain token for that and that allows you to trade auction or represent the car in the market and that's was possible with today's technology but if we enrich it to a Smart token then it can be an integration point a car token can be transformed into a frictionless experience where the tokens Can integrate into multiple

12. 7:47

    layers multiple applications and markets and by that let me let me guide you through the Journey how do we get there and at this stage smart cars have an app and that app on your mobile phone is the only connection point between your your mobile phone and your car this is the only connection on the internet you can do things like open or start or lock the car but if it is a token as a asset it can be represented on the market it is tradeable as security and you can probably program

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    things like Open start lock car we already did this for our um car manufacturer pass parnership although in a limited scale and you can list cars for sale that's a blockchain feature but if we further enhance that into integration point then we can bootstrap a lot of use cases the users who have the car token can go to for example Government website and register their car and get a car plate number without any

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    paperwork they can for example connect their car to the uh Service Company and get their car automatically service and the bill automatically settled they can use that token to go to the insurance website and get an insurance as this uh picture demonstrate and even better the insurance itself could be a smart token so if you have a roadside accident your insurance company can automatically call the roadside assistant company or arrange a uh repair service for a car or

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    even organize a replacement car through your token authorization so this picture shows that the possibilities of integration is Limitless you can link a car to rental company you can rent your car to a website or you can link your car to Uber so that Uber drivers can drive away and come and drive it back at the end of the day while you have the portion of the revenue generated by the car and this lies the true power of

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    tokenization by making things smart but making token smart now I have done explaining the we have about five minutes uh let me explain what this means to the Internet so once people realize just like our smart cat users once people realize the power of making their tokens smart and ination points the web will change companies will start to consider whether or not they are selling products directly to consumers or they should tokenize their products and

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    services and they will also consider the websites no longer interface to the user but interface to token holders and what that means is users with different tokens might get differentiated services on their website and the website can Target token users Target you tokens functionalities such as operating a car rental market targeting the users who have Smart Car tokens and even further from there once the infrastructure there you can have

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    very interesting Innovations such as selling tables in the restaurant as a token therefore Rec uh having the revenue uh before the services was provided or as a car maintenance company you can sell a token called guaranteed part token which mean which if the customers buys it then if the car breaks down then the insurance kicks in and make sure the passs are delivered in a short period of time um and if your car doesn't break down that that's Revenue so new business

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    model can be created once the business and internet start to think in token terms and that's why I believe I believe that the Next Generation web will have token at the center and we call that token Centric web and the architect we call it token Centric architect so that's that's what I want to share with everyone today and we have three minutes should we have someone else or should we have a

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    question session would like to ask within the last few minutes if not we can move on to our next talk but please give it up for we wo thank you