Blockchain
By Steven Anderson
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What Are NFTs And Can They Play A Role In Trade-finance?
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Post Covid-19 Era And How NFTs Will Digitize Transactions?
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What Role Will Tradefinex’s Play in the Adoption of Non-Fungible Tokens?
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Why Is the XDC/Xinfin Network Most Suited for Digitized Transactions, Post…
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#1. Block Time
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#2. Transaction Fees(TX fees)
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#3. Transaction Time
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#4. Smart Contract and Open Law
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With the COVID-19 virus spreading all over the globe, businesses have remained closed to comply with government-initiated protocols.
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Amongst trade and finance-related institutions, there has been an increasing need among stakeholders to exchange important documents through trustless transactions.
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To avert unnecessary and expensive product returns, the need for trustless transactions has gone through the roof.
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Whilst challenges resulting from COVID-19 have been devastating, several tech-related questions linger. These are:
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Non-fungible tokens or NFTs are unique tokens that contain identifying information recorded within their smart contracts and immutably recorded on the token’s blockchain.
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At the same time,non-fungible tokens aren’t divisible.That is a part of the token would not be worth much or redeemable. What’s more, NFTs cannot be exchanged for identical tokens.
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Within the trade & finance space, non-fungible tokens can help track property rights, evidence of purchase, and product attributes involved in trade and finance.
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