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> we can now, in theory, build Internet native contracts, loans, insurance, title to real world assets, unique digital goods (known as non-fungible tokens or NF

> we can now, in theory, build Internet native contracts, loans, insurance, title to real world assets, unique digital goods (known as non-fungible tokens or NFTs), online corporate structures (such as digital autonomous organizations or DAOs), and on and on. I'm so tired of this stupid mantra that crypto-addicts keep repeating. 1. You can't put real world events into a blockchain in a decentralized manner. In no fckn way. How are you gonna put a result of a sports event into a blockchain? By mining what? It's ridiculous. It always should be an oracle, authority, company, government, etc, i.e. a centralized trusted entity. 2. Loans. Yeah, loans to anonymous entities that can just transfer money to another wallet without any possibility of reversal. 3. Digital ownership. It's nothing without a possibility of a forceful defense of this ownership. You bought a house on a blockchain, but previous owners don't want to leave. What are you gonna do? Call Satoshi?

heyidioturwrong 5y ago
You talk very confidently about something you don't seem to know much about. 1. >You can't put real world events on blockchain Yes you absolutely can, look into decentralized oracle projects like Chainlink or Augur for more info. 2. Loans already exist fully onchain, look into Aave and Compound. Loans are overcollatoralized so 'credit' of address doesn't matter. They haven't figured out undercollatoralized loans yet, but it's just a matter of time before we get propor decentralized identity, which will open opportunities for credit creation on chain. 3. As for titles to realestate, its just a matter of time before goverments recognize deeds held on chain as legitimate, and then that problem is solved.