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NFT's are fine, in that the represent a token that isn't fungible, and as such, would be a great way which, if regulated, would allow for things like selling re
by cykros 4y ago
NFT's are fine, in that the represent a token that isn't fungible, and as such, would be a great way which, if regulated, would allow for things like selling real estate (deeds) or automobiles (titles) and other things of this nature using the blockchain to avoid the possibility of forgery, and to cut out the overhead associated with verifying chain of custody in conventional systems. Obviously, the adoption needs to happen and regulations need to be written for this to happen effectively, but it very well could.
As far as trading silly gifs that you "own", well...yes, it's asinine. But not really any moreso than how much money kids these days are pumping into Fortnite skins and similar nonsense.
- knorker 4y ago> would be a great way which, if regulated, would allow for things like selling real estate (deeds) or automobiles (titles) Absolutely not. The source of truth for real estate is the local government's land registry. The NFT blockchain can never be the source of truth, since ownership can change due to court action, bankruptcy, eminent domain, or whatever. You cannot have someone refuse to give up their passwords, and just give up "ok, I guess you own this real estate or car forever, then". No. The police will come arrest you if you squat. The government will not care that you have the private key to an NFT of the house. Blockchain solutions inherently cannot be the source of truth. Which means they'll drift away from the truth. Which means they become pointless.