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There can be mechanisims for recovery. Social recovery wallets, multi-sign wallets, DAOs all can be part of the solution to loss of keys. The question really i

• yojo 5y ago
  There are undoubtedly technical solutions for resyncing the block chain to reality. But once you need them, you’re effectively saying the block chain is not the source of truth, and it’s governed by the same inefficient system that managed titles before. At this point it is effectively a complicated solution to a simple problem - record all bits about property ownership in a publicly available place. It is unclear to me what properties the block chain has that makes it superior to a database with backups. So I would argue that it’s not necessary and makes a complicated system more complicated, not less so. What would really help is digitization of the records, which is a political and bureaucratic problem more than a technical one. There are undoubtedly better/worse implementations, but a block chain solution feels like it’s probably on the “worse” end of the spectrum.