“We expect the market to grow explosively when the securities token (ST) and digital asset (virtual asset) markets are connected.”
Kim Jong-seung, SK Telecom’s Web 3.0 business team leader, made a presentation on the Token Securities Issuance (STO) discussion held by the People Power Digital Assets Committee, the Korea Management Information Association, and the Korea Corporate Law Research Institute at the National. Assembly Members’ Hall on the 5th and said, “A wallet that can identify the same user. This type of service is only possible when the system is built into the infrastructure,” he said. .
Token securities guarantee tokens through blockchain (distributed ledger) technology, and various assets such as art, music, web noise and movies can be turned into securities. It clearly differs from virtual assets which do not have securities.
Team leader Kim Jong-seung referred to the strength of token securities as being able to reorganize the ecosystem of the digital capital market. Tokens issued for the purpose of fundraising can be clearly distinguished from utility tokens with strong service features.
At the same time, Kim emphasized that in order to activate token guarantees, it is necessary to discover products that require real demand and reduce the cost of entering the market. In addition, it was clarified that the Bank of Korea should support stablecoin transactions whose value is linked to CBDC (Central Bank Digital Currency Credit) or real assets under review.
He also analyzed that in order to differentiate between token securities and existing securities, the investment experience should be related to the service experience.
In this process, team leader Kim proposed a service scenario related to existing virtual assets, including non-fungible tokens (NFTs) and utility tokens. For example, in the case of purchasing webtoon token warrants, it is a method of exercising usage and membership rights through NFTs and utility tokens.
However, in Kim’s opinion, when providing such a service, it should be preceded by the establishment of a wallet infrastructure that can identify users.
Team Manager Kim said, “If money is made for everyday assets, community investments can be made with a similar taste or preference for a particular product.” It will be important if we can do it,” he noted.
SK Telecom developed a web 3.0 wallet last year and placed it in the NFT market ‘Topport’. SK Telecom plans to separate the wallet from Topport, support various major networks including Ethereum, and expand it into a wallet service covering everything from token securities to CBDC.
Team leader Kim Jong-seung said, “It (Web 3.0 wallet) is like a type of my data, transactions will be conducted in the market, but token securities, CBDC, and NFTs will be able to be verified in one wallet. “
