Web3 Innovators

How will tokens change your online experience?

December 21, 2022 Conor Svensson Season 5 Episode 8
Web3 Innovators
How will tokens change your online experience?
Show Notes

In the eighth episode of our new season of Web3 Innovators, our host Conor Svensson is joined by Weiwu Zhang, Founder and CTO of Smart Token Labs.

Weiwu has over 9 years of experience in blockchain technology, alt currency design and trading algorithms. He has served as a blockchain architect for the Commonwealth Bank of Australia, held the R3 global architect office, and also architected 3 altcoins and 7 ICO projects.

Smart Token Labs is creating a new standard for a tokenized future, building composable smart token bridges from tomorrow to today.

Connect with Weiwu on Twitter

Episode highlights:

  • How Weiwu bought his first Bitcoin in 2010, which sparked his interest in blockchain
  • Where his inspiration and focus came from, which led to him founding his own company 
  • The struggles he faced starting Smart Token Labs at a time when the community viewed tokens differently
  • The broad change of perception and understanding of tokens sparked by NFTs
  • Issues they face with wider adoption of the technology
  • How technology capabilities will increase as people demand more functions from tokens
  • Weiwu’s belief that tokens will create a less frictional market
  • What Soulbound tokens are and what they may mean for the future
  • What Weiwu believes mainstream adoption of tokens will look like in 10 years time

Key Takeaways:

  • Instead of trying to focus on how to make the blockchain programmable, I try to understand what blockchain means to the industry. - Weiwu

  • People started to see tokens differently because NFTs demonstrated that tokens can be different things. Ever since, it became very easy for us to explain the idea behind Smart Token Labs, how smart tokens can reduce market friction and allow integrated applications like Web3 without synchronised points. - Weiwu

  • Businesses need to see that with wider access to the market, they're able to sell more goods and services. So they should be more incentivised to use tokens. - Weiwu

  • We will see a lot of token use cases. We will see all of the smart devices have a token interface.That includes cars, smart luggage or smart meeting rooms. We will see individuals start issuing their time as tokens so that if you want to book a meeting room your app can solve this automatically by the token from the market. - Weiwu

  • Previously Chrome and Firefox struggled with the idea of whether or not they should be Web3 browsers and connect to the blockchain. The reason they struggled is they didn't see how connecting blockchain would change the web experience. But that will change because they will start to realise that it's not the blockchain they're connecting, it's the token that they're servicing. - Weiwu

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