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It's not a single fucking source of truth since you need an oracle to go between the blockchain and the actual legal authorities to register ownership. You just
by giantrobot 4y ago
It's not a single fucking source of truth since you need an oracle to go between the blockchain and the actual legal authorities to register ownership. You just have an entry in a ledger that says "X owns Y" with zero legal backing. I can take your money and give you a receipt but that doesn't mean anything if I don't have the authority to sell the thing.
- mrguyorama 4y agoIt's a company with some REAL contracts to pretend that the stupid database is authoritative, as if judges love stupid law games like that. A blockchain adds nothing to this, as it is merely an extremely stupid and expensive database. The point is to cash in on crypto hype.