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We already have (digital) ownership that can be publically verified.

• thebean11 5y ago
  And traded permissionlessly? I don't think so..
  • manigandham 5y ago
    What's that actually mean in this context?
    • thebean11 5y ago
      It means there's not a 3rd party that can prevent the transaction, reverse the transaction, or initiate a new transaction without the current owner's permission. For example, Steam games can be traded user to user on the platform, but it's all at the whims of Valve. At any moment Valve could shut down, freeze your account, disable trading etc.
• mikro2nd 5y ago
  Absent a trusted third-party? Please show us.
  • Retric 5y ago
    Just like the cloud still runs on physical computers, NFT’s require a trusted 3rd party. For example crypto art can be uploaded that’s a direct copy of someone else’s artwork. Copyright doesn’t care about the NFT at that point you don’t own the image.
  • manigandham 5y ago
    Ownership doesn't exist in a vacuum. You need laws and rights, which requires courts to adjudicate and police/military to enforce; and that in turn requires trust in a governing state actor. For NFTs specifically, you still have to trust whatever chain and transaction says you actually own it. And there's nothing that stops someone else from also claiming they own the original except for the centralized statement of the originating party; nevermind the fact that digital bytes have no "original" anyway.