Romanian government will soon unveil official NFT marketplace

Romanian government will soon unveil official NFT marketplace

On April 26, Romania will unveil its own institutional non-fungible token (NFT) trading platform, the ICI D|Services. The platform will allow users to create, manage, and trade NFTs, thus helping bridge the gap between public and private sector institutions.

The result of 5 years of research

The NFT platform is the brainchild of the National Institute for Research and Development in Informatics (ICI Bucharest), whose goal is to drive Web3 adoption nationwide.

Dr. Paul Niculescu-Mizil Gheorghe, who leads ICI Bucharest’s blockchain laboratory, explained what spurred the development of the NFT platform. He disclosed that ICI Bucharest had spent the previous five years concentrating on research and development but had redirected its focus to explore the realms of blockchain, Web3, and NFTs as these technologies continue to gain worldwide popularity.

According to Gheorghe, the reason for the recent popularity of NFTs lies in their capacity to produce one-of-a-kind and rare digital assets that can be useful in various contexts. Consequently, institutions have realized the value of NFTs, which prompted the proposal of the NFT platform in ICI Bucharest towards the end of 2021.

Partnering with MultiversX

MultiversX, a blockchain infrastructure provider, has partnered with ICI Bucharest to develop the ICI D|Services platform. As part of the partnership, a decentralized Domain Name System (DNS) and Top-Level Domain (TLD) ecosystem will also be developed, as revealed by MultiversX CEO Beniamin Mincu.

Dr. Paul Niculescu-Mizil Gheorghe, who has a Ph.D. in Industrial Engineering, has expressed his confidence in the ICI D|Services project, which has received support from the Romanian Government through the Secretariat-General and the Ministry of Research, Innovation, and Digitalization.

Gheorghe believes that innovative projects like ICI D|Services have the potential to boost Romania’s economy by creating new sources of revenue, fostering economic growth, and encouraging a culture of innovation and entrepreneurship.

Project supported by national athletes

Several notable Romanian sportspeople, organizations, and institutions, including the Romanian Olympic and Sports Committee, 100-meter swimming freestyle world record holder David Popovici, and the national philately organization Romfilatelia, have collaborated to develop five distinct NFT collections, which will be unveiled at the launch of the platform.

According to Gheorghe, the ICI D|Services platform serves as a bridge to connect the younger generation with public institutions, enabling a comfortable zone for digital interactions. He believes that blockchain technology enhances institutional efficiency by addressing digital asset management, transparency, and security in various operations such as education, health, transport, land registration, and supply chain management. As a result, he envisions the platform facilitating a culture of innovation and entrepreneurship and generating new revenue streams, thereby boosting Romania’s economic potential.

The CEO of MultiversX shares Gheorghe’s views and emphasizes the Romanian government’s dedication to embracing technology and creating new opportunities for interaction among citizens, businesses, and institutions. He also notes that the conflict between cryptocurrency and governments has only just begun and that initiatives like ICI D|Services will enhance Romania’s position in the industry.

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