Black People : Could NFTs replace physical money and could it help the African Continent/Diaspora, those against the Western Euro system to come up?

asmith161718

Well-Known Member
REGISTERED MEMBER
Dec 31, 2009
556
180
Just read an article about how a Whisky company is replacing physical collector bottles of whisky with a NFT and it kind of blew my mind. I never knew that a NFT could replace something physical like whisky bottles. Could NFTs one day replace physical money like gold, silver, precious metals or a countries' currency? If it could then this could definitely help African countries, the African Diaspora and other countries trying to escape the Western European system like Russia and India because it will allow the diaspora to invest in their countries NFTs. according to overproof.com/2022/01/27/whiskey-nfts-and-wine-nfts/ The Glenfiddich Whiskey Brand was the first to replace physical collector whiskey bottles with a NFT. Each bottle represented 15 NFTs. NFTs are a reflection of the assets real-world value, but also factor in the variables that fluctuate with the market. The batch of 15 bottles sold out in a matter of seconds for 18,000 (4.7 ETH0 each. Within 24 hours on the blockbar auction site they were selling for between $189,000 and $288,000.
Jamaica want independence from Britain. What if they make a NFT of their currency? The price would probably sky rocket and help their currency.

I think it could possibly really work. If a person dug up a gold nugget. Put the nugget in a vault and sell a NFT version of it the price could possibly rise depending on how secure the vault is and how the gold market fluctuates. And of course a country like Jamaica, India, NK, Russia would have better security than an individual.
 
Just read an article about how a Whisky company is replacing physical collector bottles of whisky with a NFT and it kind of blew my mind. I never knew that a NFT could replace something physical like whisky bottles. Could NFTs one day replace physical money like gold, silver, precious metals or a countries' currency? If it could then this could definitely help African countries, the African Diaspora and other countries trying to escape the Western European system like Russia and India because it will allow the diaspora to invest in their countries NFTs. according to overproof.com/2022/01/27/whiskey-nfts-and-wine-nfts/ The Glenfiddich Whiskey Brand was the first to replace physical collector whiskey bottles with a NFT. Each bottle represented 15 NFTs. NFTs are a reflection of the assets real-world value, but also factor in the variables that fluctuate with the market. The batch of 15 bottles sold out in a matter of seconds for 18,000 (4.7 ETH0 each. Within 24 hours on the blockbar auction site they were selling for between $189,000 and $288,000.
Jamaica want independence from Britain. What if they make a NFT of their currency? The price would probably sky rocket and help their currency.

I think it could possibly really work. If a person dug up a gold nugget. Put the nugget in a vault and sell a NFT version of it the price could possibly rise depending on how secure the vault is and how the gold market fluctuates. And of course a country like Jamaica, India, NK, Russia would have better security than an individual.
Well one debate that always might loom and possibly control the speed of acceptance is the carbon footprint of NFTs. Green vs. Tech when you start talking about that kind of usage. I think we are still a ways off from that kind of possibility. I do agree in principle crypto/NFTs can/could be equalizers. Still some choppy waters to navigate though.
 
It all depends on if NFT's remain Decentralize....or go the way of Net Neutrality.

Governments are moving to Centralize Crypto and NFT's, if they succeed in Centralization of the Virtual Financial Universe then they will be able to exercise immense control on a level that will render Cancel Culture way too real and effective.

Also consider that if Crypto's remain decentralize and continue to grow it will become a real and present rival to the US dollar being the World's Reserve Currency....heads will roll
 
It all depends on if NFT's remain Decentralize....or go the way of Net Neutrality.

Governments are moving to Centralize Crypto and NFT's, if they succeed in Centralization of the Virtual Financial Universe then they will be able to exercise immense control on a level that will render Cancel Culture way too real and effective.

Also consider that if Crypto's remain decentralize and continue to grow it will become a real and present rival to the US dollar being the World's Reserve Currency....heads will roll
For sure, where the gov was asleep for a good time they are waking up a lot quicker now. It is a race.
 
Well one debate that always might loom and possibly control the speed of acceptance is the carbon footprint of NFTs. Green vs. Tech when you start talking about that kind of usage. I think we are still a ways off from that kind of possibility. I do agree in principle crypto/NFTs can/could be equalizers. Still some choppy waters to navigate though.
The carbon footprint is huge!
A few years ago before Bitcion sky rocketed I became curious bout block chain, bitcoin and the like. Soz one night i visits a friend that knows more bout computers then I care to. That night happened to be another visitor that had been mining bitcoin for a while.........made for some interesting conversation.
Any ways he said one winter when he lived in a smallish apartment and the running of the computers mining he didn't have to ever turn up or even turn on the heat. And in fact sometimes had to crack open a window in the bedroom so he could sleep.

The carbon footprint is huge.
 

Donate

Support destee.com, the oldest, most respectful, online black community in the world - PayPal or CashApp

Latest profile posts

TractorsPakistan.com is one of the leading tractor exporters from Pakistan to Africa and the Caribbean regions.
HODEE wrote on Etophil's profile.
Welcome to Destee
@Etophil
Back
Top