The Day ABSParis took attendance via blockchain technology
In a world of constant technological change and in a field as sophisticated and demanding as finance, it is imperative to not only keep up with the opportunities and the world around us, but also with the tools available to us.
Taylor Munroe, the CEO and founder of WebTree Consulting and Andre Elias, the Co-founder of Fruitstars NFT, are entrepreneurs based in London, UK. They recently visited Paris and held a presentation on the new digital world of web3, with a focus on the utility and potential of non-fungible tokens (NFTs).
Moreover, Yves Nseir is a well-known expert in the field of Blockchain. In addition to his work as a professor, Yves Nseir is also on the board of MSc Fintech and Digital Sustainability dual degree at ESAM and American Business School of Paris. In this role, he is helping to educate the next generation of fintech and digital sustainability professionals. He has invited Andre & Monroe to a guest appearance at IGS group to share his experiences and insights with the students.
NFTs are digital assets that represent the ownership and authenticity of a unique item or asset. They are created using blockchain technology, which allows for the creation of verifiable digital assets that can be easily bought, sold, and transferred.
During the presentation, Munroe and Andre highlighted the different types of NFT structures, including collectables, utility tokens, digital real estate, and identity verification. NFT collectables are new digital items that have a level of desirability. Whether it be the utility they provide, the physical item they present, their historical reference or the digital art itself. Utility tokens provide access to a specific service or feature within a particular platform, such as game tokens or characters. Whereas digital real estate represents ownership of virtual land or property within a virtual world or game, with newer examples representing the deeds of the real-life property. Identity verification NFTs can be used to verify the identity of an individual or entity, often for use in online security, voting systems or certificates.
The presentation also covered the process of launching your own NFT. To do so, WebTree Consulting emphasized the importance of determining the value and uniqueness of the item or asset being represented, as well as choosing a blockchain platform and creating a smart contract to govern the terms of the NFT. They also highlighted the importance of seeking the assistance of a blockchain consultancy firm or developer to help navigate the process to ensure the core values are adopted.
As a demonstration of the practical application of NFTs, Andre and Monroe also conducted the first-ever attendance taken on blockchain using a POA (Proof of Attendance) protocol NFT. Students in attendance were offered the NFT to keep in their wallet as a tangible representation of their participation in the event. Additionally, Andre & Monroe held a meeting with the chancellor (Fady Fadel) of the IGS group to discuss the group's vision for supporting future entrepreneurs and fintech students.
Overall, the presentation provided valuable insights into the utility and potential of NFTs, as well as the steps involved in launching your own NFT. Their demonstration of the practical use of NFTs through the use of a POAP protocol NFT was a unique and innovative way to showcase the potential of these digital assets.
