"I think we live in a world where holding the real thing in your real hands is all that matters."
In regions with the rule of law, there are things more important than physical possession - ownership, contract.
Re:The NFT market bubble has popped?
by NoGravitas on Thursday June 03, 2021 @02:20PM
(#27385294)
Right, but NFTs don't solve those, either. In a dispute between the court and the blockchain, the court wins.
"Right, but NFTs don't solve those, either. In a dispute between the court and the blockchain, the court wins."
1) In contracts, you can add a clause that mandates a dispute-resolution process that must take place before either side goes to real courts. These could be codified into the blockchain contracts. If that process is well run, I assume the court will have no reason to over-rule it.
2) In blockchain matters, is there a distinct party to file against? Where there is, do you know who they are? And are they in the same jurisdiction as you?
If someone cares about having a piece of art badly enough to steal it or create a fake do they care at all about what an NFT says about who owns it?
I think we live in a world where holding the real thing in your real hands is all that matters.