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I have an example but it’s not necessarily the best and most practical solution, it’s just one very good solution to a problem that not everyone experiences, so it’s generally shot down as unnecessary.

In countries where buying a car or house involves an asynchronous exchange of money and keys or signing of documents, with all the trust issues involved, having an NFT represent ownership (which requires recognition and acceptance by the state) is a perfect use case, where you transfer ownership and receive payment in one atomic operation.

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merc@sh.itjust.works ⁨10⁩ ⁨months⁩ ago

In countries

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.

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- jungle@lemmy.world ⁨10⁩ ⁨months⁩ ago
  Yep, I knew you would show up.
  
  You have obviously never bought 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 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.
  
  Your rant about cryptocurrencies is irrelevant to this.
  
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  - merc@sh.itjust.works ⁨10⁩ ⁨months⁩ ago
    
    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.
    
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    jungle@lemmy.world ⁨10⁩ ⁨months⁩ ago
    You truly made an effort to ignore everything I wrote. Well done, I guess.
    
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