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NFT. I get the ledger part. And to my understanding it's digital signatures using a blockchain as a certificate authority. But why is it only used for digital
by muzani 5y ago
NFT. I get the ledger part. And to my understanding it's digital signatures using a blockchain as a certificate authority.
But why is it only used for digital assets? Why not use it to double sign a physical asset like a house? You get the paper sig and the NFT in case you lose the deed.
- madamelic 5y ago> But why is it only used for digital assets? Why not use it to double sign a physical asset like a house? You get the paper sig and the NFT in case you lose the deed. I would strongly guess it is because of the lack of legal infrastructure around this. The US in particular seems to have two modes regarding blockchain: strangle it with regulation to the point of being non-viable or entirely wild west. The big issue would presumably be legal recognition and support that NFTs are valid contracts and hold up in court. You would also need support of basically dissolving the NFT in favor of a physical deed only.