3 ms·

"There's absolutely no reason that you couldn't set up a traditional database to do that." Everything is equivalent to a Turing machine. The question is costs

"There's absolutely no reason that you couldn't set up a traditional database to do that." Everything is equivalent to a Turing machine. The question is costs. "clearly how technology is going to streamline the process of conveyancing. This is what's actually needed, not trading property like NFTs" These statements say the same thing: a perfectly efficient conveyancing process is seamless, so the property can change hands like an NFT. An atomic swap with cash in one direction and the title etc. in the other. At which point, we just use an NFT. Have a nice day.

TheProbes 3y ago
I`ve talked to blockchain bro`s since day one about this stuff. "Houses as NFTs" etc etc. It`s a simple grift, an empty scam, substituting a woo-woo-tech "solution" to obscure the fact that the basic idea is houses as bearer bonds. Transfer the NFT? O.k, what happens if the wrong NFT is transferred and the person refuses to give it back? What happens if someone hacks your wallet and steals your apes and your house. Do you have to move out? What happens if the wrong data gets entered and an apartment block has one less floor of apartments than actually exists? What is your blockchain solution to the boring everyday errors and fraud that occur in real life? Here`s the problem. My shiftless nephew put a key logger on my computer and transferred my house NFT to his own wallet. Now he`s claiming I gave it to him and is aiming to sell it. Walk me through the process resolving this, step by step. .
ross_st 3y ago
No, trading an NFT is not the same as the process of conveyancing. Conveyancing includes checks to comply with property law. Trading an NFT doesn't. Have a nice day. P.S.: You've already admitted on the Mattererum website that the NFT isn't actually legal ownership of the property itself, but an interest in the property, and an extra step is still required to convert that into legal ownership. If you wanted to build digital a marketplace for property interests to be speculated on like NFTs with a traditional database you could - and no, it wouldn't be more expensive. It's not been done because the demand isn't there.

TheProbes 3y ago

I`ve talked to blockchain bro`s since day one about this stuff. "Houses as NFTs" etc etc. It`s a simple grift, an empty scam, substituting a woo-woo-tech "solution" to obscure the fact that the basic idea is houses as bearer bonds. Transfer the NFT? O.k, what happens if the wrong NFT is transferred and the person refuses to give it back? What happens if someone hacks your wallet and steals your apes and your house. Do you have to move out? What happens if the wrong data gets entered and an apartment block has one less floor of apartments than actually exists? What is your blockchain solution to the boring everyday errors and fraud that occur in real life? Here`s the problem. My shiftless nephew put a key logger on my computer and transferred my house NFT to his own wallet. Now he`s claiming I gave it to him and is aiming to sell it. Walk me through the process resolving this, step by step. .

ross_st 3y ago

No, trading an NFT is not the same as the process of conveyancing. Conveyancing includes checks to comply with property law. Trading an NFT doesn't. Have a nice day. P.S.: You've already admitted on the Mattererum website that the NFT isn't actually legal ownership of the property itself, but an interest in the property, and an extra step is still required to convert that into legal ownership. If you wanted to build digital a marketplace for property interests to be speculated on like NFTs with a traditional database you could - and no, it wouldn't be more expensive. It's not been done because the demand isn't there.