The Most Significant Advancements In Crypto Technology Are Due To NFT Meltdowns

As the cryptoasset marketplace continues to hurtle into another crypto winter, it would be tempting for investors and policymakers to focus on the current price declines at the expense of other areas.

Tempting, but an approach that would be a disservice to the very investors that regulators are so actively trying to protect.

Volatility is a part of any asset class, cryptoassets are still a new type of asset and technology, and so as painful as recent downturns are, they should not be the primary focus of investor conversations.

Idea of self-sovereign identity and self-custody of information, has only become more important over the last several years.

The importance of personal information, and control over that personal data, is a reality that has only recently come to forefront of policy and market conversations.

The fact that technology firms leverage personal data to help generate billions in profits while being relativley poor stewards of said data.

Control over data will, in large part, control identity; what better tool to assist in this pivot than blockchain?

An immutable and uncensorable ledger of transactions, able to be viewed by any member at any moment with full transparency.

NFTs are, at the core of the idea, a tool by which ownership and provenance can be established, connected, and traced between the physical and digital worlds.

Identity transcends either specific realm, so it makes sense that the future of identity will be at least partially blockchain based.

Real estate. Purchasing and transacting with real estate has never been presented as an especially seamless or enjoyable process.

Blockchain based applications and programs are already being implemented to attempt to streamline at least some parts of these transactions, with promising results already being generated.

Returning back to the concept of NFTs, it also seems real estate records and transactions are an area where the unique nature of these instruments can be effectively leveraged.