NFTs are gathering a good amount of news coverage lately. Non-fungible tokens have come out of blockchain technology and allow a digital asset to be proven unique.
“Idoneus is a great example of a platform leveraging the technology to transform the business of luxury,” writes Jillian Godsil. “The identity verification and smart contracts they have built on blockchain ensure the legitimacy of a transaction while providing security and lowering the costs that typically impact transactions in the luxury space.
Rather than “cash,” they are shifting the emphasis to “value” using cryptocurrency (in this case, the native payment token IDON) as a secure medium of value exchange. One of the great things about Idoneus is that they have taken regulation very seriously from day one – ensuring compliance with requirements such as KYC and AML; people do value what they own, and Idoneus values the confidence that people place in them to help manage the risk they face with the things they value in their lives.”
You can read more about what they are and also why Idoneus is blazing a new trail in the luxury asset space using the same underlying technology. Identity verification and smart contracts that we have built on blockchain technology bolster the security of a transaction while lowering costs.