RGB is a scalable and private smart contract system for Bitcoin and the Lightning network. They embody the concepts of private and mutual ownership, abstraction and sharing of concerns and represent a "post-blockchain", Turing-complete form of trustless distributed computing that does not require the introduction of "tokens".
RGB is not a token protocol. While RGB can be used to issue and manage various types of highly scalable, programmable and proprietary assets, it has applications in many industries far beyond finance.
How the RGB smart contract system differs significantly from previous approaches, both Bitcoin-based (Colored coins, Counterparty, OMNI) and non-Bitcoin-based (Ethereum, EOS, etc.): RGB separates the concepts of the smart contract issuer, state owners and state evolution RGB stores smart contract code and data off-chain RGB uses blockchain as a government commitment layer and Bitcoin script as a property control system, and smart contract evolution is determined off-chain
