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I'm not an expert on this, but it sounds like the selling point of NFT is decentralization. If your DB goes down, then everyone's ownership is lost. There's al
by muzani 4y ago
I'm not an expert on this, but it sounds like the selling point of NFT is decentralization. If your DB goes down, then everyone's ownership is lost. There's also no guarantee that the ownership can't be changed by the owner.
If you buy artwork from an online site, then you can prove ownership by having a physical representation of that artwork at home. Same for a house or car, there's physical documentation to back the database. Banks are interesting, because they had physical ledgers for a long time before going fully digital.
And you have the startups whose value proposition is being an authority - they can't screw you over without imploding. But some do implode, within the crypto scene and outside it. When they do implode, that takes down all the databases with it.