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So Goodbye To Our Old Economy— And Hello To The Tokenized Economy: A Practical Guide to NFTs
Just this week the UK government committed itself to building an infrastructure around NFTs, and thus supporting the rise of the tokenized economy [here]:
So let’s forget the hype around NFTs in the art world and on Opensea, and look at the possibility to mint cryptographic tokens which can be linked to real things. The example I will use is to award an NFT to students completing a module, and where I (as the tutor) can mint NFTs for my students, and award them with a grade. I token will be minted by me, and be unique, and I will allocate it to the student.
Old world, new world
We live in an old digital world — filled with old protocols and methods that derive from our paper-based approaches. Our advancement in the 21st Century has been to copy and paste our wet signatures into documents and create PDFs on them. Overall, this is just silly and has zero trustworthiness. The future must be toward using cryptography certainty with our transactions, especially to represent physical assets with tokens. These tokens are now often defined as NFTs — non-fungible…
