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Last time I bought a house we needed a solicitor or conveyancers to do a title search. That info could be on a blockchain as an nft amd a smart contract could h
by carpo 5y ago
Last time I bought a house we needed a solicitor or conveyancers to do a title search. That info could be on a blockchain as an nft amd a smart contract could handle it.
- olliej 5y agoWhat would be the improvement over a database?
- after_care 5y agoTrust. A blockchain copy can be better verified than a database.
- olliej 5y agoIf the content of an NFT or what have you disagrees with the government's records - e.g. the database you would otherwise be querying - the government's records win. The government is the source of truth for title ownership.
- carpo 5y agoWell, the Government could still be the one who writes the smart contract (or commissions one or uses a global standard) and has oracles with all the data required. I know many purists wouldn't like that, but I'm just bullish on the technology, and see it going further than NFT images and the FUD that people keep arguing about, i.e right click save and ponzi schemes. There's a use-case for this tech, and it's in discovery mode at the moment. Writing it off now feels a little premature.