Insights.
DIGITAL SCARCITY
Blockchain technology makes digital barter possible. The free trade of digital assets will be a key part of the future financial system. Learn what banknote design can do for the space.
One of the most prolific areas for Independent Currencies has been the realm of digitally scarce assets. The rise in prominence of the NFT - the digital collectible - has introduced the notion of digital scarcity to mainstream awareness.
Digital scarcity is possible via blockchain. Before the blockchain, a jpg (or any data) was infinitely replicable. But when data can occupy a unique and verifiable place on an immutable ledger, it acquires a non-fungibility - i.e. it becomes a unique asset.
Independent Currencies is unique in the banknote industry, for taking banknote design to the digital space, where product design, art, and the future of barter converge. We have found a need for the quality of artwork offered by banknote design, regardless of whether the end product is physical.
In the course of our work, we have learnt a lot about the digital assets space, evolving ideas of scarcity and luxury, as well as banknote designs’ unique visual properties and what it can offer the digital realm.
