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That's true, it's just another medium of execution via cryptographic signatures exposed as on-chain tokens. The legal foundation is still being figured out (mos
by manigandham 5y ago
That's true, it's just another medium of execution via cryptographic signatures exposed as on-chain tokens. The legal foundation is still being figured out (mostly due to transparency and global jurisdiction issues) but there is something unique about having a much more programmable system.
It's like DocuSign + APIs + banking + decentralized security and governance all rolled into one, and I think societal and economic changes will catch up to make this new system of transactions much more valuable.
- Dylan16807 5y ago> It's like DocuSign + APIs + banking + decentralized security and governance all rolled into one, and I think societal and economic changes will catch up to make this new system of transactions much more valuable. What makes you think that? When I see that the people that are the most invested aren't bothering to tie any real rights to the NFTs, that's a really bad sign. Blockchains are also pretty bad at banking in general.
- lottin 5y agoYeah, blockchains are incompatible with exercising coercive power, and it turns out without coercive power there are not that many useful things you can do. For example, enforcing a copyright license, or a loan agreement, requires coercive power.