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> With a DAO as the nominal owner, selling property simply becomes a matter of executing a smart contract transaction on the blockchain. Except legally speakin
by cheph 5y ago
> With a DAO as the nominal owner, selling property simply becomes a matter of executing a smart contract transaction on the blockchain.
Except legally speaking that means nothing unless you go through the legal process of transferring your title.
Sure if governments ran on it, but the cost won't really go away, you will still have taxes, and you will still have lawyers, and you will still have disputes. Smart contracts does not fix the oven that was not working properly when the title was transferred.
- dcolkitt 5y agoYou wouldn't formally transfer title, because the corporate entity owning the property would remain the same. Corporations can change ownership without triggering any title changes on the real property they own. For example if Hilton Inc. was acquired by a private equity firm, it wouldn't require any title transfer on the hotel properties they own.
- cheph 5y agoPretty sure it would but good luck when the tax authorities come for you.