28th September 2022 Digital Bytes

Welcome to this week’s Digital Bytes. This week we have analysis on the following topics:

NFT and copyright challenges - since the explosion of non-fungible tokens (NFTs) in 2021, copyrights have been a major problem in the industry as many fake and cloned NFTs have been sold to individuals who have little or no knowledge about them. Although there are many authentic tokens which have been sold for substantial amounts, the internet is full of copied products of several authentic NFTs. In the US, internet copyrights are very clear and infringements can result in fines of up to $150,000. So to some extent, NFTs are, at least and in essence, afforded some protection.

Challenges of keeping your digital assets private - in theory, using blockchain technology to issue digital assets has offered greater privacy and enabled transactions to be carried out in a highly confidential manner using crypto graphic security, meaning that a third party such as a bank was no longer required or could know …