Crypto Opportunities And It As An Evolving Entity

The opportunities which lies within the cryptocurrency, as time progresses we will definitely see more establishment and other sectors come to actualization of the fact that cryptocurrency is the way to revolutionizing the traditional finance system. In an interview with mark Cuban which seems to be very delighted with the opportunity which cryptocurrency brings.

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One of the sectors which he has an eye on the Non Fungible Token NFT sector which is practical example using book publication, in he’s words he said;

“NFTs as books, I think particularly for textbooks. Now, whether or not we can get the college textbook publishers to go along is another issue but the idea of kids buying books for classes… The whole process of buying books.

First, do you want new or used? Then, you lug these books back, then at the end of the semester – because they’re only good for the time you’re in the class – you make the decision, ‘Yeah I’m going to sell it. How do I sell it? Do I ship it off? Do I take it to the bookstore?’ It’s just a pain in the ass and in a digital world, it’s ridiculous.

With those as NFTs, well the NFTs allow you to apply royalties so that when that book is resold, the author and the publisher and whoever else is involved can get a set royalty fee. That means that the publishers who created the book can keep on getting paid, whereas when there’s a physical book that’s sold and resold they have to hope that book falls apart, so that they can sell a new one. So I think that’s a great application.”

Another sector which he suggested should appreciate the blockchain technology is the health insurance, which he says that the sector will benefit greatly by it having a decentralized system.

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