CLEAN : Rhino horn NFT sold in South Africa

The video discusses blockchain technology, highlighting its decentralized and community-driven nature. It explains how blockchain can be a powerful tool for conservation, particularly in protecting rhinos. The speaker emphasizes the high costs of conservation and the role of private funding, including the use of NFTs as a means to support these efforts.

What is a key characteristic of blockchain technology?

• It is only used for cryptocurrencies.

• It is a centralized ledger.

• It is controlled by a single entity.

• It is free, open, and transparent.

How does blockchain technology contribute to rhino conservation?

• By reducing the need for physical security measures.

• By providing a centralized database for rhino data.

• By offering a secure and incorruptible platform for transactions.

• By allowing governments to control conservation efforts.

What is a significant challenge in rhino conservation mentioned in the video?

• Lack of interest from private companies.

• Overpopulation of rhinos in reserves.

• Insufficient government funding.

• High costs of manpower and security infrastructure.

What is an NFT in the context of rhino conservation?

• A virtual reality experience of a rhino reserve.

• A government-issued conservation bond.

• A digital token representing a physical asset.

• A physical rhino horn.

Why might someone want to own a rhino horn NFT?

• To have a physical rhino horn.

• To avoid paying taxes on digital assets.

• To support conservation efforts financially.

• To gain control over a rhino reserve.