See the Future

5 min

Vehicle info (Vin #s, History)

“Another place where NFTs can shine in the future is in the real estate space. Transferring ownership of property is extremely complicated and costly today. But with NFTs, an owner can theoretically issue a token that represents their property, and this token can be transferred to a buyer to complete the sale. An owner can even use the token in a future real estate DeFi app to extract equity from their home. This would be far cheaper and efficient than using a bank.”

AUTOMOTIVE NEWS CANADA

Identification / Licenses

“From a privacy standpoint, NFTs could spell the end to online anonymity, but there are a fair amount of benefits to having a completely verified network, including a reduction of fraud, crime, and maybe even nasty comments. Not to mention, with proper Smart Contracts in place on your NFT-verified online identity, the blockchain would grant you full visibility into who has access to your data, where your data goes, and even allow you to get paid each time your personal data switches hands!”

Privacy Affairs

Real Estate

nasdaq

Medical Records

hongkiat

Birth Records

“NFT applications have been designed specifically to aid healthcare professionals as well — one such example is NFT Birth Certificates that can be issued to newborns by healthcare providers. Issuing one of these NFTs for each child can be an effective way to quickly create a lifelong identity on the blockchain that’s linked to their birth certificate – which is then verified with NFT verification apps.”

hongkiat

Healthcare

“According to the authors, patients can be disenfranchised when it comes to their personal health records as it can be distributed or commercialized once it leaves their hands, but NFTs can give patients ownership of their records through its blockchain ledger. The blockchain ledger, a digital ledger of transactions, could allow patients to track the sale of their data, giving them the opportunity to stop it or sell it themselves, according to the report.”

Becker's Healthcare

Loans / DeFi

“Think about that loan. When you hand over the CryptoPunk as collateral, you automatically get it back when you pay off your debt. And if you default? Thanks to the wizardry of smart contracts, the NFT gets transferred to the lender, eliminating the need for debt collection and bounty hunters.”

coindesk

Legal Documents

“Smart contracts can be used in place of lawyers and deposit accounts to automatically ensure that money and assets change hands and that both parties honor their agreements. NTFs convert assets into tokens so that they can move within this system with a clear transaction history.”

jbklutse