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RE: Use cases for NFTs beyond art and collectibles

in LeoFinance2 years ago

Good post ! I've been going on for ages about the way that NFT's are about more than just over-priced pixel artwork.

The other big use case I can see is international trade, particularly Customs documentation. The current process is archaic, slow and expensive. Even where documents are sent electronically (and often they are not - I've received consignments with anything up to SEVEN copies of the same commercial invoices !), there are problems over translation and lack of standard formats. There are also significant issues over validation.

The Japanese are in the process of introducing TradeWaltz, an import/export platform which uses blockchain technology, and looks likely to give them and their trading partners a significant competitive advantage (particularly when it comes to just-in-time automotive components). Adding NFT's as a way to immediately validate that documents haven't been unlawfully altered seems like a logical next step.

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I've received consignments with anything up to SEVEN copies of the same commercial invoices !

Ouch! That's painful to hear! Definitely a big use case right there. Thanks for sharing!

!PIZZA

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