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> digital wallets that hold car title NFTs So question: Will you be able to atomically exchange your California-registered car title for Ether? What happens
by csense 4y ago
> digital wallets that hold car title NFTs
So question: Will you be able to atomically exchange your California-registered car title for Ether?
What happens if the on-chain car ownership is different than the traditional notion of car ownership? If I lose my private key, do I still have ownership of the car? If I get hacked, and the hacker steals the private key to my car NFT, so the blockchain now says the car belongs to the hacker -- what happens?
If "code = law" and what happens on the blockchain is the source of truth, don't these kinds of situations cause massive problems?
If you have someone who has the ability to override what the blockchain says and say "Based on a police report of theft we are reassigning car #12345 from address 0x6666 to address 0x9abc," why would anyone want to pay hard Ether for an NFT that could be taken away from them at any time?
If they're putting everyone's records on a blockchain, how are they going to handle the massive user education problems (and even tech access problems) of not everyone understanding what private keys are and how to keep them safe?