2 ms·
Imagine that the govt and the police actually treated the blockchain record as the infallible final source of truth, without any ifs and buts, without any tradi
by pornel 4y ago
Imagine that the govt and the police actually treated the blockchain record as the infallible final source of truth, without any ifs and buts, without any traditional database on the side overriding what the blockchain says.
If an attacker came to your house, kicked your ass until you give your private key, and then transferred the land to themselves on the blockchain — the land would be fully legally theirs now! It's a valid transaction, and the courts can't reverse it — there's one source of truth, and it's cryptographically unchangeable without the private key. That's what the blockchain says, and the police will evict you from your own house.
(and then to prevent that you build enough off-chain trust systems, escrows, and side databases on top, and courts gain ability to dictate changes, and the actual blockchain becomes an irrelevant implementation detail).