Written by: Vickie Sullivan | April 26, 2022
Using NFTs and Blockchain to Solve Old Problems
I wrote about NFTs and added value earlier this month. Now, I want to drill down on the topic with this Fast Company article about Alfa Romeo’s plan to offer an SUV that comes with its own blockchain token. It’s another great example of applying a hot trend to solve old problems.
Why this works: Alfa Romeo uses something new to solve the old and boring problem of keeping maintenance records. Keeping (and certifying) these records this way is far handier than how its competitors do it (whose tokens came with physical carbon fibers from the International Space Station). In a world of cool, effortless service like this can stand out.
And in the process of solving that problem, the NFTs can change how used cars are priced. As the article noted, NFTs can replace the Kelley Blue Book to drive the resale value. The ripple effect is strong here.
Listen: How to Choose Which Trend Is Best for You
Can you do this, too? Sure. A few ideas: Use digital certificates and blockchain to track progress in learning a new skill. Or tracking behavior change. Or maybe use the technology in recognition programs.
It’s easy to dismiss bright shiny objects like NTFs and blockchain. But if you take away the buzz and look at the problems they can solve, then maybe you can use these new applications to stand out.
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