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The number of centralised authorities doesn't change the core problem in my question - how do you sell anything with attached IP rights when NFT infrastructure

• lmm 4y ago
  The NFT infrastructure supports buying and selling tokens. Attaching IP rights to that token can be done through the legal system, and third party agencies could attest on the blockchain that they believe the token has such a legal structure in place and properly set up (e.g. that the legitimate rightsholder has signed the release/deed/what-have-you in question).
  • Yizahi 4y ago
    [flagged]
    • lmm 4y ago
      > Oh, how cool, I didn't know that NFTs had a field called "legal system" inside. You probably pack those pesky IP rights into megawumbo package, and pass it to the Rockewell Turbo Encabulator which neatly packs them into just seven bytes. You do it the other way round; the token is a token, you would set up a deed or a trust or what have you that associates whatever rights you want to with that token. > The bullshit you are describing is called a centralised system and NFTs are completely not needed for it's functioning. True enough. But there are things that the current system handles badly, and it's not great at transferring things quickly or internationally. > That "legal system" will need to have a centralised DB and store ALL information inside it to verify real ownership. The previous owner would need to set it up so that ownership irrevocably rested with the token bearer. But that's doable. (I'm not saying it's wise, but it's doable)