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You don't need NFTs to do this though, you can just use signed commitments stored in some public log.
by treyd 3y ago
You don't need NFTs to do this though, you can just use signed commitments stored in some public log.
- humanizersequel 3y agoYeah, doesn't even make sense for something like this to be decentralized, it should be run by Rolex so they can catch edge cases and correct them by fiat
- greiskul 3y agoYup. If your father dies, and leaves you a Rolex, but does make a way to give you access to the keys to the nft, would the Rolex stop being authentic? When we are talking about digital proof of ownership of physical goods, any solution that can fail synchronization of the record due to entirely foreseeable events like death, ownership disputes, etc is a failed solution.
- throwme_123 3y agoGood remark. I think it is simpler to just use a public blockchain that having Rolex properly build "open" cloud services to do that and maintain it themselves over the long run.
- notfed 3y agoSoftware engineers forget that the general public isn't capable of or willing to generate a private key and keep it secure for the long term. It's a deal breaker. Crypto isn't the answer. It's also over engineering. A serial number and a registration process can go a long way.
- maxcoder4 3y agoI'm a security engineer and I'm not sure I'm capable of keeping a private key secure for the long term.