'Bitcoin Ordinals Are One of Many Ways to Represent Real-World Assets' — Wakweli Co-Founder – Interview Bitcoin News

Bitcoin.com
Bitcoin.com

29 Jun 2023 11:30 AM

In addition to using tools such as digital notaries, the Wakweli co-founder said NFT users must learn to do their own research....

  • Shaban Shaame, co-founder of Wakweli protocol, argues that without digital notaries, there is no effective way to prevent scammers from minting and selling plagiarized NFTs.
  • He emphasizes the importance of authenticating entities and encourages NFT users to do their own research and triple-check transactions.
  • Shaame also discusses the risks of linking assets to "bitcoin fractions" and the tokenization of real-world assets on a blockchain.
  • Tokenization allows for the migration of physical titles to digital ones, enabling new opportunities such as fractional ownership and faster transfers.
  • However, the enforcement of the digital link to the real world and the definition of an authentic asset remain challenges.

The overall sentiment of the article is neutral. It discusses the challenges and risks associated with NFTs and the tokenization of real-world assets without digital notaries.

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You May Ask

What is the role of digital notaries in preventing NFT scams?How can NFT users protect themselves from scammers?What are the risks of linking assets to "bitcoin fractions"?What are the opportunities enabled by the tokenization of real-world assets?What challenges exist in enforcing the digital link to the real world for tokenized assets?

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