3 ms·
Yes, just like a house ownership contract by itself is just a piece of paper and is independent of the underlying house. And to prove your ownership of your hou
by pennaMan 5y ago
Yes, just like a house ownership contract by itself is just a piece of paper and is independent of the underlying house. And to prove your ownership of your house that contract must be validated by a central authority - a goverment.
A house ownership NFT on the other hand requires no central authority for validation and complete strangers can exchange that house without a central authority being involved in proof of trust, and the buyer can immediatly charge rent based on his new ownership of the house. Thus removing several layers of bureaucracy.
Indeed, enforcment against mallicious misapropiation of ownership still requires a central authority with monopoly on violence.