3 ms·

I think your examples are good cases for any registry. NFTs aren’t particularly good for this as they are expensive in their current form. Any transaction shoul

I think your examples are good cases for any registry. NFTs aren’t particularly good for this as they are expensive in their current form. Any transaction should be very low cost to process and there would be no value to the NFT itself, but to the thing tracked by the NFT. So I think the right play would be to not speculate and wait for a government to use blockchain/NFT for registries. The land registry is a good idea, but is already done without blockchain/NFt so I’m not sure the value of layering this on. For these things to work, it’s better to have a common operator under a monopoly (government) and fees be nominal. This is how deeds work in the US today, but there’s some clerk filing sheets in a courthouse and processing transactions. This can be improved by databases, etc but NFT doesn’t provide much benefit over a parcel number. As we automate this process, we would not have a market for selling NFTs, we would just need a robot instead of a clerk.

cturner 5y ago
Here are the qualities that I think are special about this model: (1) the platform is organic; (2) critical mass kicks in pretty quickly. Organic: it would be unrealistic to attempt to solve the wine problem as a one-off registry. But once the infrastructure exists, it becomes trivial to solve the wine problem. You point out that many of the individual scenarios could be solved by a conventional registry. This is good criticism, thanks. Maybe the role of the chain is not to be a log of everything, but rather to be a system of governance. Participating registries need to be onboarded to the chain, and need to abide by the rules to stay onboarded. Governance consists of humans (proof-of-stake parties) who serve as regulators and magistrates for participating registries. They ensure that the APIs are in good order, and have the ability to excommunicate systems that are not playing by the system. In this model, the chain serves the same role as a nation state, but it does not have land. The artwork problem is still useful, though, because it is a problem that allows you to bootstrap the platform. Analogy: Amazon was initially about books, but Amazon was never really about books.
- prepend 5y ago
  Your use case is much cheaper with just a wiki. The NFT layer only adds lots of cost and speculation. Or a single trusted entity is more likely to organically arise than an NFT market solution. The issue that these sound decent in theory, but in practice they suck because of costs. And for sustainability, I’d rather deal with the government to run it. If they would arise organically, they would have already. The problem is that the incentives is for jerks trying to make money than people to collaborate.

cturner 5y ago

Here are the qualities that I think are special about this model: (1) the platform is organic; (2) critical mass kicks in pretty quickly. Organic: it would be unrealistic to attempt to solve the wine problem as a one-off registry. But once the infrastructure exists, it becomes trivial to solve the wine problem. You point out that many of the individual scenarios could be solved by a conventional registry. This is good criticism, thanks. Maybe the role of the chain is not to be a log of everything, but rather to be a system of governance. Participating registries need to be onboarded to the chain, and need to abide by the rules to stay onboarded. Governance consists of humans (proof-of-stake parties) who serve as regulators and magistrates for participating registries. They ensure that the APIs are in good order, and have the ability to excommunicate systems that are not playing by the system. In this model, the chain serves the same role as a nation state, but it does not have land. The artwork problem is still useful, though, because it is a problem that allows you to bootstrap the platform. Analogy: Amazon was initially about books, but Amazon was never really about books.

prepend 5y ago
Your use case is much cheaper with just a wiki. The NFT layer only adds lots of cost and speculation. Or a single trusted entity is more likely to organically arise than an NFT market solution. The issue that these sound decent in theory, but in practice they suck because of costs. And for sustainability, I’d rather deal with the government to run it. If they would arise organically, they would have already. The problem is that the incentives is for jerks trying to make money than people to collaborate.