Quincy Jones

The future of blockchain technology extends beyond the native cryptocurrency, focusing on the demand for tokens built on the network. While many discussions revolve around the movement of value through the native currency, there's a significant emphasis on tokens like NFTs (Non-Fungible Tokens) and secondary tokens that facilitate their own economies, such as stable coins. NFTs play a crucial role by representing real-world assets like commodities, securities, derivatives, options, and more on the blockchain. As an increasing variety of assets are represented on the chain, the native cryptocurrency serves as a neutral form of capital. This allows anyone with internet access worldwide to use it for exchanging on-chain assets. What sets these units of account apart is their ability to be automated and exchanged between unrelated smart contracts. This dynamic creates an environment where parties from different countries, typically reliant on their own currencies and local banking systems, can trade with a neutral currency. They can leverage the blockchain network to exchange assets without navigating through the complexities of local banking, payment terminals, and the currencies of each party's residing country. Tokens can be programmatically managed and traded within automated services known as smart contracts. These smart contracts not only facilitate basic brokerage services with tokens but also interact seamlessly with other smart contracts. The native cryptocurrency acts as a universal form of value transfer in exchange for the assets being traded. While current NFT marketplaces predominantly feature digital images, the potential for more sophisticated tokenization opens the door for real-world assets to populate these marketplaces. These assets represent units of account that can be shared across different smart contracts, expanding the scope of blockchain technology beyond simple currency transactions.