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Home NFT

NFT technology: the digital passport of cars that does not deceive

admincrypto by admincrypto
March 7, 2022
in NFT
NFT technology: the digital passport of cars that does not deceive
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TOAlthough it may seem distant, this report has to start with the cryptocurrencies. I’m sure he’s heard of them. Maybe even invested in one. There are several, although the best known is the bitcoinwhich was used in a transaction for the first time in 2009. More and more entities and companies admit payments with them.

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Cryptocurrencies as a form of payment

For example, Tesla allows to use the doecoin in its digital store to buy clothes, accessories, cell phone chargers or sun visors, with prices from 50 to almost 2,000 dollars. And the flirtation he had with bitcoin is known: in February 2021, its president, Elon Musk, said that their cars could be paid for with that currency. Three months later, he backed down due to its high environmental impact.

cryptocurrencies are digital assets used to pay for goods and services through electronic transactions. But with important differences: do not have physical support, such as a coin or a ticket; are not controlled by financial institutions and they do not require intermediaries (especially banks).

They don’t need it because they rely on the blockchainor blockchain: a encrypted internet network in which all transactions made with cryptocurrencies are entered. This information cannot be deleted and, when it is updated, it is updated for everyone participating in the network. In this way, ownership is assured of the acquired assets and prevents them from being falsify or duplicate.

Well, blockchain technology is also the support for NFTor non-fungible tokensthe latest virtual invention that has just landed on the car world. An NFT is a digital identifier that is associated with an element, supporting its authenticity and serving as proof of ownership. Until now, they have been linked with images, videos and especially works of art.

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