Romania to use NFTs for storing official documents
The National Institute for Research and Development in Informatics (ICI Bucharest) is working with Romanian startup Elrond Network to develop an NFT platform and more.
In collaboration with the Elrond Network, the Romania’s National Institute for Research and Development in Informatics (ICI Bucharest) has revealed that they are working on two projects that will run on the previously mentioned blockchain. These include the development of an NFT trading platform for “state institutions, business and citizens,” as well as a decentralized DNS (Domain Name System) and TLD (Top-Level Domain) ecosystem. This marks the first time a country has initiated these kinds of projects at a European Union level.
The General Manager of ICI Bucharest, Adrian Victor Vevera, said the following in the announcement post:
“Our common goal is to evolve the relationship between citizens, the business environment and state institutions, using state-of-the-art digital innovation. Web3 technologies can help public administration and institutional processes run more efficiently, quickly and securely. We want to explore this significant potential with our Elrond Network partners.”
Using the NFT platform, citizens will be able to not only securely digitize their official physical government documents, such as ones related to land and property documentation, driving licenses and more, but also use it for getting important verified documents without the need of physically going to the office. This doesn’t mean the usual way of doing things will disappear – citizens will simply have a new, simpler and time-effective option they can use if they wish.
The CEO of Romanian startup Elrond Network, Beniamin Mincu, commented:
“The intersection of governance and technology creates a universe of opportunities for advancing society. It is the right time to take the initiative along with our partners from ICI and embed Elrond Web3 innovations into the next generation of national and institutional frameworks.”
Despite the negative backlash towards anyone who mentions an NFT, the adoption of non-fungible tokens doesn’t seem to stop growing, and we’re only just getting started with the diverse and useful use cases that are possible with the innovative technology. Romania isn’t the only country aiming to use NFTs – France may also use them, but in a different way.