Blockchain, Crypto, NFT
2022, June, 16
Opinion
Blockchain
- Distributed Immutable Ledger
- could be used to create a trustless system
- energy inefficient - uses too much energy for recording trivial transactions. Inefficiency is the price for not having a trusted central authority.
Crypto Currency
- tokens issued for finding the next hash of the blockchain.
- bad investment - they are not assets as they do not produce anything. their price is based on people's perception.
Non Fungible Token (NFT)
- establishes ownership of a digital item on blockchain
- no legal status of ownership
- without legal status, the ownership cannot be enforced hence price is speculatively based on people's perception.