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In theory the state could be a trusted authority on land ownership, but in practice they don’t have their act together. It’s such a mess that you have to pay fo
by erik_seaberg 5y ago
In theory the state could be a trusted authority on land ownership, but in practice they don’t have their act together. It’s such a mess that you have to pay for third-party “title search” and “title insurance” to protect the lender from the risk that a sale might not be honored because of a dispute about the property line a century ago. I once had an entry-level temp job verifying old claims on microfiche; I could easily believe they still have to do that today.
- jeffffff 5y agoare you proposing that there is a technological solution to this? ultimately governments enforce land ownership and whoever they decide is the owner is the owner, no matter what is recorded in a blockchain.
- erik_seaberg 5y agoBootstrapping a legible system that fully agrees with the current system will be a nightmare. I just didn’t want anyone to come away thinking the current system works well, because it really, really doesn’t.