MAKING INFORMATION CAPITAL
In order to capitalize a piece of land it must first be defined by a surveyor. Then that definition needs to be made public. Laws need to be in place to effect title to the land. Methods of doing business need to be in place to sell the land and the law needs to be able to secure the new owner. Then the land needs to be analyzed as a comparable to other pieces of land in order to establish a relative value.
To capitalize information for an Information Currency, we need to know what is available where at what relative value.
Create an NFT representing the asset or service. Use metadata that aligns with the relevant industry.
The smart contract that creates the NFT will make assignment to the owner’s wallet.
Secure with Legal:
NFTs that represent physical assets and services need connecting oracles that include legal contracts to verify that a human (or designated machine) or legal entity signed the smart contract on the creation of the NFT that confirms the digital representation of the physical asset or service.
Method of Transaction Where:
The rails for secure transfer of an NFT that represents a physical asset or service in exchange for payment in a form of cryptocurrency such as Bitcoin is in place. The sales order, invoicing, and delivery tickets can be automated or manually created.
Establish What Value:
It is possible to continue to value assets and services using dollars, euros, pesos etc. But our opportunity is to open up the value languages based on new accessible comparables. All of this discussion is in my new book, The Language of Value, Feb 2022