The NFT hype has introduced many people to the ” tokenization ” of assets. This is the recording of a digital proof of ownership of an asset on the blockchain. This has been happening for years with real estate and shares, but recently also with digital content and art. More and more sectors, and now countries too, are going to tokenize assets.
After El Salvador made Bitcoin legal tender, many studies have been conducted into its use and effect in the country, with sometimes very conflicting results. It has therefore long been doubted that more countries will use crypto as legal tender.
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For example, the Central African Republic has 32 valuable commodities spread over 470 sites in the ground, including petroleum, copper, diamonds, cobalt and gold. Raw materials that are of no use to the inhabitants of the poverty-stricken country. They are still there, because Taiwan Phone Number the country has just ended a civil war. By tokenizing these resources, the government wants to democratize these resources. Making it available worldwide for investors to buy back a share. In addition, tokenization also offers the possibility to invest fractionally, for example, so that smaller parties or consumers can also invest in this. In addition, it is completely transparent, so that it is also clear what happens with the money
An official identity is important and necessary in arranging many things in life. From arranging a bank account and insurance to obtaining a loan or mortgage, access to almost all government services and nowadays even buildings. Privacy laws and regulations have only tightened this up, so that more and more people are asked to identify themselves.
Africa is the content with the highest number of peer-to-peer transactions in Bitcoin and other cryptocurrencies. And most payments are handled by mobile phone. That is why we are currently working on setting up a payment system via the lightning network . In addition, the transactions do not run through the Bitcoin blockchain itself, but a layer ( layer 2 ) that is built over it. A major upgrade of Bitcoin, as it can only handle 7 transactions per second, compared to 24,000 of the VISA network.