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> 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
by 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.