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this post was submitted on 26 Jul 2023
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No Stupid Questions
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No such thing. Ask away!
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NFTs could have a useful case of keeping online records of ownership. Being cars, homes and even cattle. Which coulld also make it easier and cheaper to sell or buy these things.
Ignoring privacy concerns of course.
But you would still need an authority that can unilaterally make changes to these ownership records. People die, things get lost, stuff happens. So it can't all be based on signing with private keys of individual persons. At that point: Why not run a central database of it all. It's cheaper, more efficient and you could still publish a public record for traceability.
I really don't see any problem that Blockchain could solve better than other solutions. Except Cryptocurrency.
Yeah right. It's that easy :D