Plans underway to onboard private, government firms on the blockchain with a set standard
People generally only associate Non-Fungible Tokens (NFTs) with a picture or art; however, UAE national Abdulla Mohamed Al Dhaheri seeks to use and make people aware of the full capability of blockchain technology in Dubai.
Blockchain is a digital system, or a form of distributed ledger, in which a record of transactions made in cryptocurrencies are maintained across several computers, aimed essentially at having multiple points of control, rather than just one (decentralisation).
NFTs are units of data (tokens) stored on a blockchain (a digital, decentralised ledger) and certifies a digital asset as unique and, accordingly, un-interchangeable. The details of the asset’s ownership are recorded in the blockchain, and can be transferred by the owner, allowing NFTs to be sold and traded.
Blockchain technology is a fairly new tool that is set to shape the future of the Internet by means of secure...
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