TDaltonC t1_j1v2d16 wrote on December 27, 2022 at 4:54 PM

ERC721/1155 (NFTs) is a smart contact technical specification. Asking about that might be the wrong question. Is the further of art ownership attribution digital? Yes. Is the future of digital ownership record keeping blockchain based? Yes.

jujubee2522 t1_j1v5y6b wrote on December 27, 2022 at 5:17 PM

This is the part of the discussion I didn't understand. I think the blockchain will play a huge role in digital ownership in the years and decades to come, but not necessarily NFTs.

TDaltonC t1_j1v6p11 wrote on December 27, 2022 at 5:22 PM

The public discourse on this is all very confused, so you’re not alone.

icest0 t1_j1v636g wrote on December 27, 2022 at 5:18 PM

>Is the future of digital ownership record keeping blockchain based? Yes

lol no.

TDaltonC t1_j1v7vpe wrote on December 27, 2022 at 5:30 PM

If you were designing a public ownership registry from scratch today, what technology would you use for settlement and clearance if not blockchain? You a fan of graphite on tree pulp?

icest0 t1_j1vaw3y wrote on December 27, 2022 at 5:49 PM

What is this, a system design interviews?

I'm not sure what I would use for it to be optimal, but I definitely wouldn't use blockchain simply because it wouldn't be practically at all.

Says a person made a mistake while they're inputting the data to the blockchain. How are you going to change it? it's inevitable that someone will made a mistake, which is why in database design, we generally has a way for people to reverse, remove or changes it in some way.

>You a fan of graphite on tree pulp?

I'm a fan of practicality, which is something that blockchain lacks.

What about you? how are you going to incorporate blockchain into the process and make it actually usable?

TDaltonC t1_j1vfkgs wrote on December 27, 2022 at 6:20 PM

That is exactly the kind of usability problem that is totally real, but also very manageable. It’s not trivial, but it’s on everyone list of things that will get better as the technology matures. People had the same kind of objections to computers and the internet. (I can’t believe I need to belabor this point in a sub about tech trends)

As for what I’m personally doing about this, I’m the cofounder of a company using blockchain to track beneficial ownership of climate assets. So I think that the arguments in favor of blockchain are very convincing.

icest0 t1_j1vi4xs wrote on December 27, 2022 at 6:36 PM

>It’s not trivial, but it’s on everyone list of things that will get better as the technology matures.

You have no idea what you're talking about.

The point the of the blockchain is ALL data that's stored on blockchain should not be changes/delete/reverse, it should only be added on top. it will never getter better as it would contradict the core concept.

>People had the same kind of objections to computers and the internet. (I can’t believe I need to belabor this point in a sub about tech trends)

We don't. And the concept of blockchain exist for 3 decades now but nobody uses it. beside cryptocurrency.

>As for what I’m personally doing about this, I’m the cofounder of a company using blockchain to track beneficial ownership of climate assets. So I think that the arguments in favor of blockchain are very convincing.

The best you can do to explain how you're going to use it is to say "using blockchain" that's all? And my guy, you honestly think I won't see your BS if you say you are a cofounder at X company? lol I'm not 5 years old.