Think.Nxt With Raghav is a brand new series available only on The Quint, where our Editor-in-Chief Raghav Bahl explores the extraordinary intersection of India's destiny with disruptive technologies and emerging trends which are rapidly changing the world order.
In this episode of Think.Nxt With Raghav, The Quint’s Editor-in-Chief Raghav Bahl argues that cryptocurrency will become a revolution in the world of finance when you can attach an underlying cash flow to it.
As an extension to his argument, Bahl puts forth a hypothesis with a problem of owning the Empire State Building in New York.
“If you want to own the Empire State Building, you can’t. But if the Empire State Building can be broken down into 1,000 commercial units, and each unit is a Non-Fungible Token (NFT), which gets traded on a crypto exchange, and each token has an underlying cashflow, then I can buy a token that represents the office on the 21st floor,” Bahl explained. He asserted that this is possible when a cash flow gets attached to a crypto.
'The Financialisation Of Cryptocurrency'
Weighing in, policy advisor Tanvi Ratna said that cryptocurrency was not built to have cash flows from fiat currency (or money in its current form), and that it was only later that the "financialisation of cryptocurrency" began.
“Now the way to create cash flow for a system like crypto is to have regulations,” Ratna remarked.
To understand the conundrum of associating cash flow, essentially in dollars, with cryptocurrency, tune in to the full episode out now only on The Quint.