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But code isn't law. You would have to rewrite parts of the legal system to support blockchain tokens as representing actual ownership, and there's strong reaso
by briatx 8y ago
But code isn't law. You would have to rewrite parts of the legal system to support blockchain tokens as representing actual ownership, and there's strong reasons why you would never want to, such as loss of private keys, forgetting of passwords, or security vulnerabilities, or user error leading to complete asset loss.
Otherwise you have a synchronization problem between the upcoming blockchain token system and the existing government deed registry, and of course the government registry would take preference, and has a history of working just fine for lower cost.
This video is an excellent overview of this topic: https://www.youtube.com/watch?v=YxmXIgLEAIE https://www.youtube.com/watch?v=YxmXIgLEAIE
I haven't seen blockchain systems as being more secure or more trustworthy. I see them being overhyped, subject to lax and magical thinking, and full of theft of coins due to hacks and scams.
- easymodex 8y ago"and has a history of working just fine for lower cost." Citation needed. Also we are just talking opinions here, a lot of things seem impossible until they are actually here and in our everyday lives.
- briatx 8y agoMaybe you should try watching the video I already cited, specifically this part: https://youtu.be/YxmXIgLEAIE?t=1404 https://youtu.be/YxmXIgLEAIE?t=1404 You might learn something.