Bantu Blockchain Foundation through its CEO Ernest Mbenkum said the Central Bank Digital Currency CBDC and Non-fungible Tokens (NFT) can be built on the Bantu Network.
The Bantu community scheduled their 1st Ask Me Anything (AMA) session yesterday since the launch of the Bantu blockchain in December 2020. Here, the team interacted with its users, and the CEO answered several questions asked by the users.
Ernest Mbenkum, the CEO and founder of Bantu, stated some other competitive advantages the Bantu blockchain has over other blockchains other than the low transaction fee. These include focusing on the community from the day of adoption, the absence of initial coin offering (ICO), and others.
CBDC Can be created on Bantu
According to Ernest, the Bantu XBN token is a utility token, and it is not an electronic currency that will compete with the Central bank. But one that is going to power the ecosystem of other assets. The CBDC can be issued on Bantu and can be powered by XBN tokens like gas fees on other blockchains such as Ethereum. Therefore, the launch of Central Bank Digital Currency (CBDC) is expected to complement and help drive the adoption of Bantu.
Several companies and projects are entering the crypto space with a different mindset. Bantu focuses on real world applications, not paying attention to the wealth but aiming to improve the crypto society by working with real asset-backed tokens with use-cases and not just speculative ones.
NFT Possible on Bantu
During the interactive section, the CEO of Bantu, Ernest Mbenkum mentioned that NFTs could be issued on the Bantu blockchain but with a particular tool that will aid that. Once the asset is created, it must have a unique backing that will make it immutable.
Bantu team is looking forward to the Token Creator tool on the blockchain, where users can create and manage several tokens like NFT, stable coins, etc. This particular token creator tool will be available in the first week of July.
Ernest also announced during the session the marketplace where the token list will take place as Timbuktu.
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