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Perhaps the biggest problem that the author does not identify is lack of timestamping. Thus their schema provides strictly weaker guarentees than NFTs as they e
by operator-name 5y ago
Perhaps the biggest problem that the author does not identify is lack of timestamping. Thus their schema provides strictly weaker guarentees than NFTs as they exist today.
Timestamping would have to rely on a trusted third party (an example being publishing the transaction on twitter which already has an identity mechanism, provides timestamping and does not allow editing) or inventing a blockchain like mechanism to reduce the influence on the third party (twitter COULD disable your account and make those tweets unavailable after all).
Without publicly verifiable timestamping verifying multiple sale is incredibly difficult, as is guarentee of future unique ownership. Apart from this the author is very on point with his criticisms and I believe most do not realise the limitations of what NFTs can achieve by themselves.