The main advantage of an NFT is that it cannot be copied, but it can be bought, sold, exchanged, loaned or even destroyed. But what about the NTT, a non-transferable token, as its name suggests, which remains in our wallet for eternity?
What is NTT?
Technically, the NTT is a non-transferable, indestructible token linked to the transfer address on the blockchain. Once received from a third party, it is yours forever, at least for as long as you are on earth. It is therefore an asset that you own and that no one can take away from you.
What applications can NTT be used for?
Diplomas, permits or other licenses could be used in the case of non-transferable tokens. No need to pull out your driver’s license, just show an NTT driver’s license on your phone at a police checkpoint. Practical, isn’t it?
Did you get your diploma? Look at my NTT, it’s got my name, my picture and the result, honors. Convincing, isn’t it?
Yes and no. While this may seem to simplify life and reassure the NTT holder at first, it could also open the door to a dystopian world where individual freedoms are subject to the virtual and the legislative. Imagine you’re at a supermarket checkout and you’re refused payment by subcutaneous chip. The reason? Your NTT “Permit to purchase non-vegan consumer goods” indicates that you’ve exceeded your monthly quota. Goodbye Charolais entrecôte, hello sprout-flavored quinoa galette.
The NTT, like any innovation, will bring its share of good and bad surprises. Its indestructible and non-transferable registration in the blockchain will undoubtedly bring useful and relevant applications. But beware, excessive and infantilizing use could also spoil our daily lives, especially in the management of health or environmental crises.
At the time of writing, author Antoine Garet was the founder of Everace token on everace.io. You can find him on Facebook and Twitter.
