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A mere NFT by itself is not a digital certificate of any kind. It is a small json snippet with a uri to an resource, that is not even stored on the blockchain.
by YeBanKo 5y ago
A mere NFT by itself is not a digital certificate of any kind. It is a small json snippet with a uri to an resource, that is not even stored on the blockchain.
- chii 5y agoyou've just described NFT to a T. The other aspects of an NFT, such as it being created by a trusted authority (like the original artist) is not encoded on the NFT itself. You have to trust the minter, you have to trust that other people see the minter as original, and you don't truly have a way to verify except via an existing social structure. aka, technology cannot solve this problem. That is why i call NFT a digital certificate of authenticity. It has the exact same problems as the paper version of a certificate (obviously, a digital version has some good utility like ease of trade/uncopiable and verification etc).
- YeBanKo 5y agoIn “paper” life, doesn’t instances of such certificates have various levels of notarization: wet stamps, seals, watermarks, actual signatures, actual notarization by a license notary? NFT does not define and have no way of enforcing authenticity. What would be an example when NFT can serve as such certificate?