Romanian Cyber Security Journal / Spring 2023, No. 1, Vol. 5

Exploring the Potential of Institutional NFTs Technology in the Emerging Digital Ecosystems of Web3

Paul NICULESCU-MIZIL GHEORGHE

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Abstract

The emerging technologies in the Web3, Blockchain, NFT and Artificial Intelligence domains have become a true dynamic environment in the last years. Numerous projects are in continuous development and new challenges are being resolved with the introduction of decentralized ecosystems and immutable ledgers at a global scale. Therefore, a trust-based dynamic communication system is required to facilitate the interactions and enhance the knowledge between citizens and institutions and how their interactions will be shaped by the emerging NFT (Non-Fungible Tokens) technology. One of the promising innovative technologies in blockchain technology which enables transparent, secure, real-time trading of digital assets exchange and automation through smart contracts, in a distributed technological ecosystem, are the NFTs and their slow adoption by institutions. This study aims to explore and analyze the application of NFT technology on the resilience of the institutional management through compliance, innovation and potential of creating new business models for the emerging Web3 markets.

Keywords

Blockchain Technology, Institutional NFT Marketplace,, Institutional NFT (Non-Fungible Tokens), Digital Assets, DeFi (Decentralized Finance), Institutional NFT Marketplace, Web3