• Alfa Romeo’s Tonale SUV to use NFT maintenance certificates.
• Exscudo supports 10 fiat systems.
• Tallycoin raises 20 BTC in support of Canadian truckers

In spite of increased volatility in the past few months, blockchain assets continue to make forays into the ‘real’ economy. Here are the top examples of blockchain assets being used to assist truckers in Canada and a major crypto platform that supports more fiat payments systems.

Alfa Romeo’s Tonale SUV will use NFT maintenance certificates

Many considered the NFT boom that occurred in 2021 to be a bubble and NFTs useless. However, we may be witnessing the emergence of a new generation of non-fungible assets: utility NFTs, to be used by major companies as part of their products – and not just as a marketing tool.

Alfa Romeo was the first company to use this utility NFT method. The new SUV will be NFT proof if it is maintained by authorized dealers. This will allow the manufacturer, dealerships, and potential buyers to better estimate the condition of each vehicle, since regular servicing papers aren’t fully reliable.

Alfa Romeo representatives also point out that NFT-enabled vehicles will be more attractive in the market because they are the first to use this technology.

A Florida home was sold through an ETH auction. The property deed had been minted using NFT technology. This is another interesting example of NFT real-life use. The law does not allow for real estate ownership to be attached to NFT ownership. Therefore, the seller will acquire the property through an LLC.

The last point highlights the numerous issues the NFT market must solve in order to integrate into the real economy. Artworks, houses, diamonds, and all sorts of unique physical items can be – and probably will be – sold as NFTs, but the industry needs to work together with the regulators to find ways to protect the property rights of those who hold such NFTs.

Exscudo now supports 10 Fiat Systems

A positive sign about crypto platforms is their integration with more fiat payments systems. Converting between fiat and cryptocurrency remains a big pain point for many – and it’s unlikely that mass adoption will materialize if users don’t have simple tools to both buy crypto and cash out.

Many existing platforms support credit cards, but it’s not enough, since in many countries consumers prefer local e-wallets to cards. Plus, the fees on buying Bitcoin with a card are often excessive – especially when using those few blockchain wallets that have this feature.

Ideally, you’d want to see crypto wallets that natively support fiat currencies in some wrapped form and allow low-cost deposits and withdrawals using a wide range of payment systems. Exscudo is one of the pioneers in this new approach. It offers both a non custodial wallet (Fintap), and a business payment solution (MultiAcquiring).

The company announced that Fintap supports 10 different fiat systems in February 2022. This includes MasterCard, SEPA transfer (very popular among Europeans), PayPal, (NASDAQ:) and Payeer. Users can also store USD, EUR and RUB along with more than 50 cryptocurrency in their wallet.

Exscudo Exchange Core allows for near-instant crypto-to-fiat conversions. This special program sources rates from multiple brokers and OTC platforms and then selects the most favorable rate. A ramp that was developed internally is used to keep fees low (compared with third-party solutions being used by other wallets).

Exscudo’s B2B product, MultiAcquiring (also known as CryptoAcquiring) offers the same level of flexibility. If the merchant wishes to accept fiat or cryptocurrency, they can set up automatic currency conversions.

Exscudo’s example shows what a regular user’s crypto experience will look like in a couple of years: switching effortlessly between cryptocurrency and fiat without having to worry about fees or available conversion pairs. Fintap actually supports more than 600 pairs (both crypto-crypto as well crypto-fiat).

Tallycoin gathers 20 BTC in support of protesting truckers

Recent protests in Ontario caused controversy. Truck drivers blocked an important bridge demanding that the Covid-19 vaccine ban be lifted. Trade between Canada and America was also disrupted. Authorities were forced to declare an emergency.

But, Bitcoin’s role in this case highlighted how cryptocurrencies are able to help users when fiat money is not. The first fundraiser to support the truckers, organized on GoFundMe, collected millions in fiat USD – only to be frozen by the platform, with all donations refunded. One solution was to start a Bitcoin fundraising on Tallycoin. This raised about 20 BTC (or close to $1million).

A crypto fundraiser was also supported by prominent figures such as Elon Musk or Kraken CEO Jesse Powelll.

While the justifications for the protests are debatable, it’s very important that cryptocurrency is starting to play such an important role in the donations space. It allows users from all countries to donate on equal terms – as well as deliver the funds directly to those who need them.

It’s worth noting that Twitter (NYSE:) recently introduced tipping with BTC via Lightning Network – another example of crypto donations (or microdonations in this case) starting to make way in this traditionally fiat-dominated niche.

One problem that remains to be solved is how – or if – crypto fundraisers should be regulated, and what to do if the authorities find such a campaign unlawful. In Ontario, the protests eventually turned quite unruly when truckers were joined by crowds, and the government ordered for the protesters’ financial assets to be frozen under the Emergencies Act. Tallycoin had also raised the BTC.

But, both on-chain as well off-chain data showed that much of the BTC had been distributed to truckers. Although Bitcoin advocates hailed the fact as a triumph of crypto-censorship-resistant cryptography, it could be argued that mass adoption requires cooperation between crypto communities and authorities.

We’ve highlighted both the potential and the challenges of integrating crypto with the real-world economy. It could be the year that we overcome these challenges, and seize our potential. Perhaps 2022 will be the year of convergence – a necessary prerequisite for real crypto adoption.

Continue reading on CoinQuora