The U.S. Postal Service wants to issue NFTs—but not in the way you’d think
Everyone and their postal office is jumping on the NFT bandwagon.
The United States Postal Service (USPS) has certified blockchain services company CaseMail as the official producer of ePostage labels in the form of non-fungible tokens (NFTs), as per a release Tuesday.
How about non-fungible postage?
The USPS ePostage labels would use CaseMail’s non-fungible token (NFT) mail technology and in a move that’s touted as the world’s first blockchain-supported postage.
NFTs are blockchain-based representations of tangible or intangible assets that prove that the holder is the true owner of the underlying asset. The latter can include, but is not limited to, digital collectibles, crypto art, and real estate…to just about anything.
And now, CaseMail is taking the relatively new technology to postage stamps. “It’s fitting that the USPS, a historic institution that served as a vanguard during the founding of our country, is at the forefront of this revolution in communications and commerce,” stated founder and CEO Joe Ruiz.
He added CaseMail’s USPS-certified blockchain postage stamps provide an added layer of credibility to the many use cases of NFTs and the wider adoption of blockchain technology. into everyday life.
How NFTs help
USPS certification of CaseMail’s NFT blockchain ePostage labels highlights the practical, real-world application of the popular new technology. CaseMail tokens are digitally stamped on USPS ePostage labels and the items being mailed.
As a result, all data about the shipment and mailing history is recorded on the blockchain, creating a verifiable chain of custody for digital and physical assets. The technology certifies the content and delivery history and the chain of custody can be cryptographically verified, ensuring privacy for both the sender and recipients.
“Using NFTs to help protect a process that’s both familiar and important to everyone – mailing a letter or package – helps demystify this important new technology. It is simply postage printed from the blockchain,” explained Ruiz.
The initial rollout of the service is exclusively for legal professionals and government agencies. The next step comes in Q2 of 2021, when the company will roll out global access primarily through integration partnerships with providers of consumer and business services.
CaseMail does not have any ‘investment’ token apart from the postage NFTs.