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It's not really "needing", but one of the strong use cases is disrupting escrow. If domains, car/house titles, etc. existed as blockchain objects then they coul
by dlubarov 9y ago
It's not really "needing", but one of the strong use cases is disrupting escrow. If domains, car/house titles, etc. existed as blockchain objects then they could be sold securely with no escrow.
- nosuchthing 9y agoso you can lose the deed to your house because it gets hacked..?
- dlubarov 9y agoPhysical deeds are forged all the time, and sorting it out requires a quiet title lawsuit. A stolen electronic deed would be handled similarly. You would ask a court to declare the stolen title invalid and issue a new one.
- voiper1 9y agoso if the court is doing that, then we have a centralized power... the opposite of the idea of blockchain.
- dlubarov 9y agoJust to make sure it's clear, I'm not saying that courts should have any special power to manipulate the blockchain, just that they could declare a stolen title invalid, and issue a new one in the form of a new colored coin on the blockchain. I'm not claiming any benefit related to government control, just that escrow would be unnecessary.
- nosuchthing 9y agoAt which point the blockchain is not needed. A centralized source will be held accountable to the legal demands, thus as trustworthy as the blockchain yet significantly more beneficial for all users in terms of speed, storage and utility.