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Why do people always use art as an example? Couldn't you do it with something like cars (where the car doesn't start until you prove you have the NFT)? I'm comp

by 121789 4y ago

Why do people always use art as an example? Couldn't you do it with something like cars (where the car doesn't start until you prove you have the NFT)? I'm completely unfamiliar the with the space

pavlov 4y ago
Would the NFT-locked car require a live blockchain connection and refuse to open its doors if it hasn’t been able to sync its node after a certain time? So you’d get locked out of your car if mobile Internet goes down? If it doesn’t do this, then you can steal the car by selling the NFT, simultaneously disabling the car’s Internet connection, and driving off. Now the NFT is held by one person but the physical car is held by another.
- Jarwain 4y ago
  Would likely require a form of NFT that's a little different and probably more complex than the current forn. Something about having the car key also be a cryptographic key, and transfers of the NFT invalidating keys or requiring rotation.
  - AlexandrB 4y ago
    What is it with NFTs and solving theoretical problems in extremely complex ways. Car thefts at at 1/3 of what they were in the 90s, and the existing mechanisms for buying/selling cars work just fine. Why do we need to introduce car DRM with brittle, distributed access control systems? You're more likely to get your tires or cat stolen - no NFT is going to prevent that.
    - davidgerard 4y ago
      because then a16z can get a cut of it
  - nostromo 4y ago
    You could shape the NFT in the form of a metal rod with notches on it. When placed inside a slot and turned, the car could validate that the right pattern of notches exist on the NFT and turn on. If you want to sell the car, simply hand off the physical NFT to the new owner.
    - woojoo666 4y ago
      Well crypto allows for trustless digital transfers. Like selling a house halfway across the world, without having to fly over to hand off the keys.
      - kareemsabri 4y ago
        So the person halfway around the world can immediately start enjoying their house?
        woojoo666 4y ago
        I assume it would be something like, the door lock is tied to the current owner as defined by the blockchain. No need for intermediaries, and no physical key.
        pavlov 4y ago
        So we're back to the original question: without an Internet connection, this blockchain-controlled door won't open, even if you're the legitimate owner. Or if it does open without Internet, then you can buy the house NFT, but the seller disabled the Internet connection in the house so the door doesn't know about the transaction. Now you're locked out even though you theoretically own the house on the blockchain. Turns out the blockchain doesn't solve ownership of physical objects. You still need intermediaries like the police and courts to decide who owns the house.
        woojoo666 4y ago
        Or perhaps it's looking towards a future where internet access is more reliable, as it has been getting for the past few decades
Vinnl 4y ago
I think the point of an NFT would be that everybody else can also see that you control the token, which doesn't really seem relevant to starting a car. You could just ("just") have a privately controlled public/private key pair, and the previous owner could tell the car that your public key should now be the only one able to open the car; no need to announce that to the world. (I also know nothing of the space, just engaging to build my own understanding.)

by 121789 4y ago

Why do people always use art as an example? Couldn't you do it with something like cars (where the car doesn't start until you prove you have the NFT)? I'm completely unfamiliar the with the space

pavlov 4y ago

Would the NFT-locked car require a live blockchain connection and refuse to open its doors if it hasn’t been able to sync its node after a certain time? So you’d get locked out of your car if mobile Internet goes down? If it doesn’t do this, then you can steal the car by selling the NFT, simultaneously disabling the car’s Internet connection, and driving off. Now the NFT is held by one person but the physical car is held by another.

Jarwain 4y ago
Would likely require a form of NFT that's a little different and probably more complex than the current forn. Something about having the car key also be a cryptographic key, and transfers of the NFT invalidating keys or requiring rotation.
- AlexandrB 4y ago
  What is it with NFTs and solving theoretical problems in extremely complex ways. Car thefts at at 1/3 of what they were in the 90s, and the existing mechanisms for buying/selling cars work just fine. Why do we need to introduce car DRM with brittle, distributed access control systems? You're more likely to get your tires or cat stolen - no NFT is going to prevent that.
  - davidgerard 4y ago
    because then a16z can get a cut of it
- nostromo 4y ago
  You could shape the NFT in the form of a metal rod with notches on it. When placed inside a slot and turned, the car could validate that the right pattern of notches exist on the NFT and turn on. If you want to sell the car, simply hand off the physical NFT to the new owner.
  - woojoo666 4y ago
    Well crypto allows for trustless digital transfers. Like selling a house halfway across the world, without having to fly over to hand off the keys.
    - kareemsabri 4y ago
      So the person halfway around the world can immediately start enjoying their house?
      - woojoo666 4y ago
        I assume it would be something like, the door lock is tied to the current owner as defined by the blockchain. No need for intermediaries, and no physical key.
        pavlov 4y ago
        So we're back to the original question: without an Internet connection, this blockchain-controlled door won't open, even if you're the legitimate owner. Or if it does open without Internet, then you can buy the house NFT, but the seller disabled the Internet connection in the house so the door doesn't know about the transaction. Now you're locked out even though you theoretically own the house on the blockchain. Turns out the blockchain doesn't solve ownership of physical objects. You still need intermediaries like the police and courts to decide who owns the house.
        woojoo666 4y ago
        Or perhaps it's looking towards a future where internet access is more reliable, as it has been getting for the past few decades

Vinnl 4y ago

I think the point of an NFT would be that everybody else can also see that you control the token, which doesn't really seem relevant to starting a car. You could just ("just") have a privately controlled public/private key pair, and the previous owner could tell the car that your public key should now be the only one able to open the car; no need to announce that to the world. (I also know nothing of the space, just engaging to build my own understanding.)