Elrond Blockchain to Host ICI Bucharest’s NFT Marketplace and Domain Name System

Next-gen smart contracts blockchain Elrond (EGLD) will be the tech basis for two crucial developments designed to push the barriers of blockchain adoption in the EU region.

Romania’s National System for Issuers and Digital Assets to launch on Elrond

According to the official announcement shared by the representatives of the European Union and blockchain ecosystem Elrond, the protocol is going to onboard its first-ever institutional NFT marketplace.

The new platform, dubbed The National System for Issuers and Digital Assets, will be a one-of-a-kind solution for Romania and the EU. It will enable data transfer for governmental officials using DLT and NFT technology.

Namely, it will allow citizens and officials to digitize, access, transfer and store official documents, property deeds or various ownership certificates.

Adrian Victor Vevera, General Director of ICI Bucharest (Romania’s National Institute for Research and Development in Informatics), highlights the crucial importance of this protocol for global web3 adoption:

The goal is to evolve the collaboration between citizens and institutions using a modern digital framework. Web3 technologies can transform public administration and help its institutions and processes leap forward in terms of efficiency and speed, while decreasing costs, overhead and excessive bureaucratic activities.

Decentralized DNS alternative on Elrond to change the narrative in Web3

Besides that, Elrond will host a novel decentralized domain name system (DNS) and top-level domain (TLD) protocol. Both instruments are set to replace centralized domain name systems and increase attack-resistance and the integrity of the global internet connection.

Elrond’s 3,200 validators will, therefore, advance the accessibility of public services resources in the territory of Romania and the European Union.

Beniamin Mincu, Elrond Network CEO, is excited about the opportunities unlocked by the ongoing partnership:

The intersection of governance and technology creates a universe of opportunities for advancing society. It is the right time to take the initiative along with our partners from ICI and embed Elrond Web3 innovations into the next generation of national and institutional frameworks.