#SouthKoreaCryptoPolicy
NFTs (Non-Fungible Tokens)
Purpose:
Provide unique digital ownership and authenticity for assets like art, collectibles, game items, and more.
Key Features:
Each token is unique and non-interchangeable (unlike cryptocurrencies or DeFi tokens).
Built mostly on Ethereum's ERC-721 or ERC-1155 standards.
Provenance and ownership are traceable on-chain.
DeFi (Decentralized Finance)
Purpose:
Replaces traditional financial services (like banking, lending, and trading) with decentralized blockchain-based protocols.
Key Features:
Smart contracts on blockchains like Ethereum automate financial operations.
Lending & Borrowing: Platforms like Aave, Compound let users lend or borrow crypto.
Trading & Swapping: DEXs (Decentralized Exchanges) like Uniswap
