Everyone in the world can track NFT funds and see their whole chain of custody spend history. It makes laundering really hard when every dollar is traced by everyone.
And no more cheating. Imagine a stock market, running on NFT technology. Each stock is unique, each stock is 100% tracked at all times, stocks cannot be made up out of thin air, naked short selling goes bye bye, stocks cannot be hidden in a dark pool, stocks cannot be duplicated/rehypothicated many times over, etc etc. I would imagine that NFT technology could completely remove nearly all corruption/cheating from many different sectors/industries that we see today.
We would know everyone who ever paid for that painting, who paid him that $590k, who paid the person who paid him. Imagine being able to track every dollar, forward and backward, forever
Everyone in the world can track NFT funds and see their whole chain of custody spend history. It makes laundering really hard when every dollar is traced by everyone.
And no more cheating. Imagine a stock market, running on NFT technology. Each stock is unique, each stock is 100% tracked at all times, stocks cannot be made up out of thin air, naked short selling goes bye bye, stocks cannot be hidden in a dark pool, stocks cannot be duplicated/rehypothicated many times over, etc etc. I would imagine that NFT technology could completely remove nearly all corruption/cheating from many different sectors/industries that we see today.
We would know everyone who ever paid for that painting, who paid him that $590k, who paid the person who paid him. Imagine being able to track every dollar, forward and backward, forever