How Certain Are You That Your Utility Token Isn’t a Security?

I have argued that security tokens offerings (STOs) will be the new standard adopted by blockchain companies for raising capital. In essence, the invisible hand will push buyers of digital assets to invest in security tokens over utility tokens. Would Adam Smith cringe at the fact that a term he coined (pun intended; not going to point them out but more puns to come) back in the 1700s is being applied to crypto, or would he crack a smile at the fact that his brainchild is still very much lending a helping hand to those of us thinking through novel concepts such as the incentive mechanisms of blockchain ecosystems? He did, after all, demonstrate a propensity to adjust his world views.