# NFT Technology for Enhanced Global Digital Registers: A Novel Approach to Tokenization
## 3 Background and Gap in Current Research  
The current digital landscape is heavily dependent on reliable mechanisms for identifying and managing unique digital objects, intellectual properties, and various forms of valuable data [9; 13]. The existing systems that cater to these demands include a combination of centralized and decentralized global registries [1; 2]. However, these systems encounter a number of challenges, including the potential for misuse, susceptibility to single points of failure, limitations of hierarchical structures, and lack of transparency [3]. Particularly, centralized structures pose issues related to the authenticity and security of stored identifiers [4]. On the other hand, decentralized systems, while offering robust security, often grapple with interoperability and scalability issues. Moreover, a current misconception in the field is the overemphasis on the intrinsic value of NFTs [8; 11]. NFTs, in essence, are unique entries in a blockchain register linking to a digital resource [3]. The assumption is that the digital resource itself has value, but in the wave of speculative trends, there are attempts to attribute value directly to the NFTs, which is misleading [8]. This research proposes an innovative approach to address these gaps and misconceptions by introducing a novel decentralized global registry system that harnesses the potential of blockchain technology and NFTs. We focus on using NFTs as unique identifiers in a decentralized ledger to tokenize pre-existing resources, which bear value due to their inherent uniqueness, singularity, and immutability. This approach not only enhances the security, authenticity, and traceability of global digital registers but also aims to rectify the prevailing misinterpretation of the value associated with NFTs. Our proposed system offers several notable improvements over traditional global registers. It introduces an infrastructure for decentralized distributed storage of unique identifiers in the form of NFTs, ensuring blockchain-secured records resistant to censorship, modification, and other malicious activities. Our solution seamlessly integrates with existing registers without requiring modifications to their structure. Further, it allows swift creation of new digital registers for various application scenarios, thereby standardizing tokenization and expanding the range of services and consumer engagement. This system also provides remarkable scalability and interoperability, enabling seamless interaction with multiple blockchain platforms. It is customizable, allowing it to adapt to specific use cases or requirements, thus appealing to a wider audience. Through its unique approach, our proposed solution addresses the limitations of existing systems and provides an efficient mechanism for managing unique digital resources globally while aligning the understanding of the value associated with NFTs. Alternatives Considered for the Tokenization of Pre-Existing Resources  
While NFT technology forms the backbone of our proposed system due to its ability to ensure the uniqueness, singularity, and immutability of digital assets, we acknowledge the existence of other potential methods for digital tokenization. This section discusses these alternatives and the reasons why they were not selected as our primary solution. * Centralized database systems. Traditional centralized databases could be employed for tokenizing digital assets. However, they present significant drawbacks such as single points of failure, vulnerability to cyberattacks, and lack of transparency, which are resolved in a blockchain-based system [16; 17; 36; 37]. * Fungible Tokens. Fungible tokens, such as cryptocurrencies, could also be employed for the tokenization process. However, fungible tokens are interchangeable and lack the unique characteristics provided by NFTs, making them unsuitable for representing unique digital assets [5; 6; 7]. * Distributed Databases.