systemling32 on Nostr: I respectfully disagree. Personally I haven't found any use of Blockchain technology, ...
I respectfully disagree. Personally I haven't found any use of Blockchain technology, that Bitcoin does not do.
Deeds to houses don't need to become an NFT and shouldn't. What if I lose the private key to my "house ownership NFT"? Whose house is it now? Do I have to move out? For real estate the ledger tracking ownership can be centrally in the hands of the entity that provides you with property rights to that house. So basically the state. If the state does not approve of you selling the house, the sole transfer of that NFT will not be enough.
Putting real-world assets on the blockchain does not work, as there is no trustless link between real world asset and the blockchain. If the house burns down, who writes that to the blockchain?
Only real world asset that can provably be put on the blockchain is computing power through PoW.
In my opinion blockchain is good for digital money and timestamping of files/information.
And even if you want to mint an NFT for your house, you can do that on the Bitcoin blockchain and don't need "crypto".
Deeds to houses don't need to become an NFT and shouldn't. What if I lose the private key to my "house ownership NFT"? Whose house is it now? Do I have to move out? For real estate the ledger tracking ownership can be centrally in the hands of the entity that provides you with property rights to that house. So basically the state. If the state does not approve of you selling the house, the sole transfer of that NFT will not be enough.
Putting real-world assets on the blockchain does not work, as there is no trustless link between real world asset and the blockchain. If the house burns down, who writes that to the blockchain?
Only real world asset that can provably be put on the blockchain is computing power through PoW.
In my opinion blockchain is good for digital money and timestamping of files/information.
And even if you want to mint an NFT for your house, you can do that on the Bitcoin blockchain and don't need "crypto".