Today consultants EY announced two extensions to its blockchain offerings. Its EY OpsChain now has an API that enables businesses to perform public blockchain transactions via an API without managing a blockchain node. Secondly, it unveiled its OpsChain Supply Chain Manager, a privacy solution for public blockchains.
The application programming interface (API) means that corporates can mint, transfer and burn tokens on either the Ethereum public blockchain or the main Polygon network, which has far lower transaction costs. Initially, only non-fungible tokens (NFTs) are available, but it plans to support fungible and hybrid tokens as well.
Bear in mind that NFTs aren’t just for artwork and collectibles. For example, luxury companies that use blockchain for provenance sometimes use NFTs as a digital passport for luxury items. So a watch passport might include when it was created and provide the previous ownership history.
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