Technological changes in the financial market are happening so fast that no one is able to say with certainty what the future of money will look like. But several specialists around the world already anticipate that, in the next five to ten years, it is possible that monetary borders will become more tenuous. After all, the transformation is just beginning.
Scholars from all over the world foresee everything: work, home and capture values, for example, to expand a small business. These experts, representing different areas, from cryptocurrencies to digital banks, agree on two points; the financial world is already changing and will be very different in the coming years.
Over a period of five to ten years, money will change form, currency boundaries will blur, the variety of currencies will multiply, value exchanges will increasingly be instantaneous, and even virtual cities or “meta countries” corporate offices may have their own payment units.
In this new universe, technologies such as DeFi, NFT, cryptocurrencies, stablecoins, CBDC (Central Bank Digital Currency), metaverse and blockchain dictate the rules of the financial game. According to the author of the book “The Future of Money”, Rudá Pellini, “money can become a free market where the best wins”. According to the specialist, “we are moving towards this, that is, having different types of virtual currencies in the world, such as those issued by corporations”.
The expert recalls that Meta itself, Facebook's controller, in the recent past announced the creation of a virtual currency to be used in its ecosystem of social networks, baptized with the name of Diem. The idea is still alive, but faces resistance from several central banks around the world.
BUT: Angola with first platform of non-fungible tokens (NFTs)
All of this is so complex that it starts to make sense when explaining some of the concepts used in this context and the security aspects that are starting to be a major concern in this “mess” of mixed ideas. After all, it all starts with being able to digitize real assets.
A token is an electronic key, a piece of code that represents some asset. When talking about blockchain tokens, some features of the technology are added, the main ones being immutability, security and transparency. In addition, tokens have the characteristic of being decentralized, following the rules of their smart contracts on the network.
Asset tokenization is the transformation of a real asset into a digital asset, fragmented into encrypted units (the tokens). The transactions of these tokens take place on a blockchain, which is a decentralized computational network of public record and follow some pre-programmed communication and interaction functionalities at its origin.
These tokens are created in such a way that they can be subdivided, traded and stored in decentralized ledger technology (DLT). Examples of real assets that can be tokenized include real estate, real-economy developments, works of art, precious metals, etc.
Among the non-tangible assets that can be tokenized, we can mention NFT, company shares, central bank digital currencies (CBDC), patents, intellectual properties, royalties, among other possibilities.
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