We are used to associating NFTs with non-fungible and collectible goods related to the world of art, gaming and collecting in general.
We often forget the potential of NFTs: these digital certificates are registered on a blockchain and serve to uniquely and non-replicably identify the ownership of a digital product.
This is what the UK has realised by giving the green light to the implementation of the Electronic Trade Documents Bill
(Ref.), i.e. the digitisation of paper in the trade sector to store documents on blockchain, drastically reducing the use of paper and the associated expenses.
In short, public administration will have great advantages in terms of cost and environmental sustainability, as well as on a practical and operational level.
The sector of non-fungible tokens continues to conquer new spaces outside the cryptocurrency world, bringing modernity and efficiency to any sector.
Electronic Trade Documents will have the same value as paper documents and will lead to an increase in security and transparency of all bureaucracy.
Not to mention the reduction in the time it takes to transfer a physical document, which usually takes several days, whereas with the Electronic Trade Document Act it will only take a handful of seconds, just enough time to carry out the transaction.
With the technology we have today, not seizing the opportunity to modernise becomes a choice; maintaining the status quo of things using old and obsolete systems means that either you are really incompetent or you don't want to lose the ability to manipulate certain areas.
Of the two, I don't know which is worse!
However, these incompetent or cunning people running our administrations can only slow down the technological revolution, but it is now underway and will overwhelm everything and everyone who is not prepared!
Because revolutions cannot be stopped!