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The data is stored on a decentralized database (many nodes). I buy my house and am send the rights to that land on a blockchain. Only someone with the private k

The data is stored on a decentralized database (many nodes). I buy my house and am send the rights to that land on a blockchain. Only someone with the private keys to my address/account/whatever could send that house to someone else. The scale of the network should make it impossible for the database to be corrupted. The whole idea here is distributed trust

tom_mellior 9y ago
> Only someone with the private keys to my address/account/whatever could send that house to someone else. And that is exactly the opposite of what a land title database is. The authorities must be able to transfer your house to your heirs if you die. The authorities must be able to take away your deed in certain cases. The authorities must be able to correct entries in the database. They must be able to override things. Land titles are worthless if they are not enforced by courts, and courts will not enforce land titles in a database that has illegal entries.
- dorgo 9y ago
  So the logical next step it to move courts and enforcement to the blockchain.
- eksemplar 9y ago
  > And that is exactly the opposite of what a land title database is. It's exactly what it is where I live. When you purchase property both parties log in with their state issued digital id to sign the transfer of ownership. This isn't done by blockchain in Denmark, which means the nationstate owns and operates the system with little openness. NOT a problem in one of the least corrupt countries in the World, but it might as well have been done through blockchain and in 20 years I imagine that it will.
  - tom_mellior 9y ago
    > It's exactly what it is where I live. No. Yes, you can do it online, great. And yes, no other private person can fraudulently do it in your name, also great. But it does not follow that it's impossible to do it without your key; it is possible, and it must be possible, for the authorities. Should the database be public for reading? Yes, absolutely. But you don't need a blockchain for that.

tom_mellior 9y ago

> Only someone with the private keys to my address/account/whatever could send that house to someone else. And that is exactly the opposite of what a land title database is. The authorities must be able to transfer your house to your heirs if you die. The authorities must be able to take away your deed in certain cases. The authorities must be able to correct entries in the database. They must be able to override things. Land titles are worthless if they are not enforced by courts, and courts will not enforce land titles in a database that has illegal entries.

dorgo 9y ago
So the logical next step it to move courts and enforcement to the blockchain.
eksemplar 9y ago
> And that is exactly the opposite of what a land title database is. It's exactly what it is where I live. When you purchase property both parties log in with their state issued digital id to sign the transfer of ownership. This isn't done by blockchain in Denmark, which means the nationstate owns and operates the system with little openness. NOT a problem in one of the least corrupt countries in the World, but it might as well have been done through blockchain and in 20 years I imagine that it will.
- tom_mellior 9y ago
  > It's exactly what it is where I live. No. Yes, you can do it online, great. And yes, no other private person can fraudulently do it in your name, also great. But it does not follow that it's impossible to do it without your key; it is possible, and it must be possible, for the authorities. Should the database be public for reading? Yes, absolutely. But you don't need a blockchain for that.