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Titles are physical objects and backed by laws and the state and a centralized database available to all of government. Many of the NFTs are not distributed ev
by th0ma5 5y ago
Titles are physical objects and backed by laws and the state and a centralized database available to all of government.
Many of the NFTs are not distributed even though they claim to be, so while they have the same kind of centralization, they have no such authority. If we were to grant them such authority, we'd want it to be a normal centralized database and the benefits of decentralization would not be needed. There would be no need for non-cooperative consensus either.
- tshaddox 5y agoI don't understand your point. Someone could physically coerce you to transfer ownership of an NFT to them, just like they could with any physical item you own. You could try to use the legal system to get your item back, regardless of whether it's an NFT or a physical item. There's no centralized database for a lot of physical property that you own, and yet the legal system can still determine ownership. What is unique about NFTs here?