In countries… so you’re already under the country’s legal system, so there’s no need for a blockchain. You can just use an ownership database maintained by the country. Blockchain offers nothing at all of value in that situation.
which requires recognition and acceptance by the state
Exactly why blockchain is pointless. Blockchain, if it has any value, is in that it is a distributed ledger that is not subject to any state’s laws. That’s great if you want to have a monetary system that no country can control, but of course that also means that no country can help you in a dispute over who owns something. In a cryptocurrency / blockchain world, there’s no appealing to the state, but also no recognition or acceptance by the state.
You have obviously never sold a car or a house in a country where you have to trust that the cash the buyer is giving you is not counterfeit, or if using a bank transfer, that they will actually make the transfer once you signed away your ownership. You’re privileged to be able to trust your fellow american (I guess you’re from the US) and your legal system.
You can just use an ownership database maintained by the country
The blockchain would be the ownership database maintained by the country. The key is the atomic exchange of money for ownership. In case you don’t know what I mean by “atomic”, I mean that the two operations cannot be done separately: either the ownership and the money are both transferred, or none are. Which solves the problem that you apparently don’t have but many others less privileged do.
where you have to trust that the cash the buyer is giving you is not counterfeit
Blockchain doesn’t solve that.
or if using a bank transfer, that they will actually make the transfer once you signed away your ownership
Blockchain doesn’t solve that.
The blockchain would be the ownership database maintained by the country
Why would you use blockchain instead of just a database. Blockchain is an extremely expensive, inefficient “database” that only makes sense if you don’t have a central authority you can trust to run the database. If you’re relying on the country to run and own the database, blockchain offers nothing useful.
In case you don’t know what I mean by “atomic”, I mean that the two operations cannot be done separately
Yes, it’s a very standard property that most databases have, along with consistency, isolation and durability. So-called ACID. Again, this isn’t some magical “blockchain” thing, this is a basic database feature.
In countries… so you’re already under the country’s legal system, so there’s no need for a blockchain. You can just use an ownership database maintained by the country. Blockchain offers nothing at all of value in that situation.
Exactly why blockchain is pointless. Blockchain, if it has any value, is in that it is a distributed ledger that is not subject to any state’s laws. That’s great if you want to have a monetary system that no country can control, but of course that also means that no country can help you in a dispute over who owns something. In a cryptocurrency / blockchain world, there’s no appealing to the state, but also no recognition or acceptance by the state.
Yep, I knew you would show up.
You have obviously never sold a car or a house in a country where you have to trust that the cash the buyer is giving you is not counterfeit, or if using a bank transfer, that they will actually make the transfer once you signed away your ownership. You’re privileged to be able to trust your fellow american (I guess you’re from the US) and your legal system.
The blockchain would be the ownership database maintained by the country. The key is the atomic exchange of money for ownership. In case you don’t know what I mean by “atomic”, I mean that the two operations cannot be done separately: either the ownership and the money are both transferred, or none are. Which solves the problem that you apparently don’t have but many others less privileged do.
Blockchain doesn’t solve that.
Blockchain doesn’t solve that.
Why would you use blockchain instead of just a database. Blockchain is an extremely expensive, inefficient “database” that only makes sense if you don’t have a central authority you can trust to run the database. If you’re relying on the country to run and own the database, blockchain offers nothing useful.
Yes, it’s a very standard property that most databases have, along with consistency, isolation and durability. So-called ACID. Again, this isn’t some magical “blockchain” thing, this is a basic database feature.
You truly made an effort to ignore everything I wrote. Well done, I guess.
You had nothing to say.