Many people see "Token" and immediately think of coin issuance, but what I see is Alibaba possibly building an internal settlement layer for the AI era: how model capabilities are priced, how resources are distributed, and how value is settled. What's truly valuable isn't the word "Token" itself, but rather who controls the measurement rights, distribution rights, and settlement rights of AI. The crypto world talks about tokenomics every day, yet many tokens don't have real demand behind them. Conversely, once major tech companies actually integrate tokens into resource allocation, that's the real deal.

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