Bucharest, Romania--(Newsfile Corp. - June 14, 2022) - Romania's National Institute for Research and Development In Informatics - ICI Bucharest (ICI) announces that work is underway for building an institutional NFT marketplace and a decentralized Domain Name System (DNS/TLD) based on the highly scalable and carbon-negative Elrond Network blockchain.
Both initiatives are the first of their kind in the European Union and are being developed in parallel by experts from Romania's ICI Bucharest in collaboration with Elrond Network developers.
"The goal is to evolve the collaboration between citizens and institutions using a modern digital framework. Web3 technologies can transform public administration and help its institutions and processes leap forward in terms of efficiency and speed, while decreasing costs, overhead and excessive bureaucratic activities," said Adrian Victor Vevera, General Director of ICI Bucharest.
The National System for Issuers and Digital Assets will be the first of its kind in Romania and likely the European Union. It is being created as a public - institutional marketplace for digital assets that will use blockchain-based Decentralized Identity and Non-Fungible Token (NFT) technology to digitize, access, transfer and store official documents, property deeds or various certificates.
In their cryptographically secured format, the documents will retain their validity and utility, while circulating at higher speeds, reduced costs and increased security....
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