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Because if I'm a rich person wanting to spend stupid amounts of money on some 'original' work of digital art, I don't want to trust a third party store the owne
by anonporridge 6y ago
Because if I'm a rich person wanting to spend stupid amounts of money on some 'original' work of digital art, I don't want to trust a third party store the ownership records that could easily be corrupted.
The ownership record in a public blockchain can't be corrupted.
- lottin 6y agoRich people entrust their entire wealth to third parties to manage it for them. Why wouldn't they trust a third party to keep some ridiculous record of ownership?
- anonporridge 6y agoBecause the entire ethos of the cryptocurrency space is about dematerializing trust from large, complex networks of humans with various carrot/stick incentives keeping them honest to trust based on cryptography and game theory dynamics of open distributed systems that can't be successfully cheated without a massive accumulation of power.
- lottin 6y agoWhat do you mean dematerializing trust, can you put an example? As far as I know, trust is not made of matter, I don't know how it could possibly be dematerialized.