LEVERAGING ENS DOMAINS AND NFTS FOR INTEGRATED BUSINESS ENTITIES: A PARADIGM SHIFT IN DIGITAL ASSETS MANAGEMENT

Raymond MAIORESCU, Augustin SEMENESCU

Abstract


The rise of blockchain technology and decentralized economies has revolutionized digital asset management and monetization. This article introduces a novel strategy that utilizes Ethereum Name Service (ENS) domains, Non-Fungible Tokens (NFTs), and decentralized technology to facilitate privacy-focused data sharing in AI applications. This integration redefines digital asset management by linking NFT-backed business entities to ENS domains. Entrepreneurs, researchers, and innovators can consolidate their earnings, intellectual property, and data assets into a single cryptocurrency wallet, simplifying ownership, accessibility, and monetization. This system fosters collaboration, value creation, and efficient data management, sharing, and AI techniques, leading to streamlined operations, reduced costs, and improved security. We examine a real-world application to demonstrate its practical implications, showcasing its potential to revolutionize business entities and digital asset management in AI and data sharing.


Full Text:

PDF

References


G. Georgiev, What is ENS? Ethereum Name Service Explained, CryptoPotato, Aug. 2022, https://cryptopotato.com/what-is-ens-ethereum-name-service/

S. Kaczynski and S. D. Kominers, How NFTs Create Value, Harvard Business Review, Nov. 2021, https://hbr.org/2021/11/how-nfts-create-value

Maruf, What is ENS? Ethereum Name Service in a Nutshell, NFT Plazas, Oct. 2022, https://nftplazas.com/what-is-ens-ethereum-name-service/

Chain Research, The Significance of ENS Domain Names and Their Use Cases, Chain, Sep. 2022, https://www.chain.com/blog/ens-domain-names-and-their-use-cases

B. Millegan, Step-by-Step Guide to Importing a DNS Domain Name to ENS, Medium, Jan. 2022, https://medium.com/@brantly.eth/step-by-step-guide-to-importing-a-dns-domain-name-to-ens-d2d15feb03e8

X, The Role of ENS in Web3, Web3 Domains, Jul. 2022. https://web3domains.com/the-role-of-ens-in-web3/

Kraken, What is Ocean Protocol? (OCEAN) The Beginner's Guide, Kraken, May 2023, https://www.kraken.com/learn/what-is-ocean-protocol

R. Maiorescu and A. Semenescu, Decentralized Data Exchange Protocol for the Manufacturing Industry, Nonconventional Technologies Review, vol. 27, no. 1, Art. no. 1, Mar. 2023, http://www.revtn.ro/index.php/revtn/article/view/411

F. Benincasa, The Rise of NFTs: Why Minting AI Algorithms is an Excellent Idea, Smarter.ai, Apr. 2022, https://medium.com/smarter-ai/the-rise-of-nfts-why-minting-ai-algorithms-is-an-excellent-idea-d401e07bacb0

EY Global, Five legal considerations for businesses taking a lead on NFTs, Feb. 2023. https://www.ey.com/en_lu/tax/five-legal-considerations-for-businesses-taking-a-lead-on-nfts

M. Madine, K. Salah, R. Jayaraman, Y. Al-Hammadi, J. Arshad and I. Yaqoob, appXchain: Application-Level Interoperability for Blockchain Networks, in IEEE Access, vol. 9, pp. 87777-87791, 2021, doi: 10.1109/ACCESS.2021.3089603.


Refbacks

  • There are currently no refbacks.


JOURNAL INDEXED IN :