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The second paragraph explains the utility of issuing it on the blockchain.
by CryptoPunk 5y ago
The second paragraph explains the utility of issuing it on the blockchain.
- acdha 5y agoIt fails to establish that this is unique to a blockchain: we do, after all, have decades of experience building distributed applications and it’s not like banks haven’t issued loans before and the hypothetical benefits have to be weighed against the added costs of relying a very slow, expensive database with no mechanism to correct bugs or fraud.
- CryptoPunk 5y agoWhat I described IS unique to blockchains: "makes that asset accessible to a large number of autonomous on-chain markets, like dApps which allow a person to take out self-executing loans that use the NFT as collateral" What market undergridded by banks provides these features. The blockchain provides extremely high assurances of up-time and immutability in its protocol rules - which assures accessibility and protection from third party interference. This is ideal as a digital asset registry.