NFTs and the Future of Trade in Kenya

NFTs and the Future of Trade in Kenya

Description/Paper Instructions

NFTs and the Future of Trade in Kenya

Non-Fungible Tokens (NFTs) are a form of digital asset that are becoming increasingly popular in various sectors worldwide. In Kenya, NFTs have the potential to revolutionize the way people trade and exchange assets, particularly in the creative industry.

NFTs allow for the creation of unique digital assets that can be bought, sold, and traded in a decentralized manner. They are created on blockchain networks, which means that they cannot be duplicated or replicated, and ownership can be verified by anyone on the network.

In the creative industry, NFTs have already been used to sell digital art, music, and other digital assets. Artists in Kenya can use NFTs to sell their work online, bypassing traditional intermediaries and receiving payments directly from buyers.

NFTs can also help to solve issues of copyright infringement in the creative industry. With ownership and authenticity verified on the blockchain, creators can prove that they own their work and prevent others from using or selling it without permission.

Furthermore, NFTs can facilitate the growth of the Kenyan art market by providing a platform for artists to reach a global audience. This can help to promote Kenyan culture and creativity, creating new opportunities for local artists and entrepreneurs.

In addition to the creative industry, NFTs have the potential to transform other sectors in Kenya, such as real estate, finance, and agriculture. For instance, NFTs can be used to represent ownership of land, buildings, and other assets. This can help to simplify the transfer of ownership and reduce fraud in the real estate sector.

In finance, NFTs can be used to represent ownership of stocks, bonds, and other financial assets. This can help to increase transparency in the financial sector and make it easier for investors to trade and exchange assets.

In agriculture, NFTs can be used to represent ownership of crops and livestock. This can help to improve supply chain management and reduce the incidence of fraud in the sector.

However, there are also concerns about the environmental impact of NFTs, particularly with regard to the energy consumption required to create and maintain blockchain networks. This is a legitimate concern that needs to be addressed, especially in a country like Kenya where access to reliable and affordable energy is a challenge for many.

In conclusion, NFTs have the potential to transform the way people trade and exchange assets in Kenya, particularly in the creative industry. They can help to promote Kenyan culture and creativity, create new opportunities for local artists and entrepreneurs, and simplify the transfer of ownership in various sectors. However, it is important to address concerns about the environmental impact of NFTs and ensure that their adoption is sustainable and inclusive.

NFTs and the Future of Trade in Kenya

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points:  Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points:  Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points:  References to scholarly sources are occasionally given; many statements seem unsubstantiated.  Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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