LCTs, NFTs, Utility Tokens
Are LCTs just a different flavor of NFTs or Utility Tokens? Kinda-sorta, but not really.
Securely link blockchain tokens with physical devices.
Patent-pending control of physical device's utility and functionality via secure token.
'Ownership' of blockchain 'assets' currently consists of access to a set of cryptographic keys. This is not enforceable. There's no recourse if keys are compromised. Blockhain 'assets' are merely records in a distributed, immutable database with no inherent value or utility. Businesses operate in the real, physical world and need solutions for verifiable ownership and control of devices.
WEB3 is in search of a 'killer app'. The physical world is in need of an effective zero-trust-based asset and transaction management solution for supply chain management, physical asset tracking, ownership, use authorization and resource utilization.
Are LCTs just a different flavor of NFTs or Utility Tokens? Kinda-sorta, but not really.
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