And who would the largest nodes on that blockchain be? The banks? Who could say and do whatever they conspired since they command >50% of the computing power and/or value?
The average person isn’t going to build a fucking blockchain node just to keep the deed to their house.
“Grandma, please you need to fill your basement with these ASICs or else script kiddies will steal your house”
NFT is issued determining ownership to a property. Property sells, another NFT is issued, tied to the original one to maintain a chain of ownership. Issuance of a second NFT for a sale to a new owner would depend on authorization by the previous NFT holder. Lienholder information could also be stored, and linked to a mortgage NFT with payment history.
The “NF” part of that stands for “non-fungible.” As in, once created, cannot be changed.
And who would the largest nodes on that blockchain be? The banks? Who could say and do whatever they conspired since they command >50% of the computing power and/or value?
The average person isn’t going to build a fucking blockchain node just to keep the deed to their house.
“Grandma, please you need to fill your basement with these ASICs or else script kiddies will steal your house”
That’s not how that works.
NFT is issued determining ownership to a property. Property sells, another NFT is issued, tied to the original one to maintain a chain of ownership. Issuance of a second NFT for a sale to a new owner would depend on authorization by the previous NFT holder. Lienholder information could also be stored, and linked to a mortgage NFT with payment history.
The “NF” part of that stands for “non-fungible.” As in, once created, cannot be changed.