hey everyone lets record every transaction from everyone on a big government database so we can solve trade disputes if someone steals my yacht and crashes it.
Re:How Blockchain Works
by the_snooze on Wednesday September 26, 2018 @11:19AM
(#18076821)
Let's say I'm the buyer and this happens. There's now a record on the government blockchain that says I own a yacht. Does that mean I physically have possession of the yacht now? How do we assure that what's in the blockchain is an accurate reflection of who actually has physical possession of the boat?
As for the yacht it's easy, the ownership is transfered from your address to the buyers address on the government's blockchain. :)