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Thanks for enlightening me with your knowledge of the blockchain. but please explain how would you "register" it? Why with my "favourite" blockchain? Why can't
by carpo 5y ago
Thanks for enlightening me with your knowledge of the blockchain. but please explain how would you "register" it? Why with my "favourite" blockchain? Why can't a centralised state use it, but get the benefits of decentralisation and proof of ownership? Your arguments and lightly veiled ad-hominem attack are actually the point of my initial comment.
Imagine that Country A decides to use Blockchain A (which has been around for decades and has proven itself secure) to store its property titles and allow the purchase of property digitally, with full transferal of title and ownership. The government writes a smart contract on that blockchain that facilitates payment, title searches, hooks into other government databases or blockchains for easement information, liens etc. They then, obviously, migrate their existing title information onto the blockchain and distribute the NFT's to the current owners. How do you "register" your fake one?
If you can't see how this could change an old and plodding industry like real estate which is surrounded by mountains of paper-shuffling, then yes, you're being unimaginative.