Re:Why NFTs are bad: the long version
by camjohnson26 on Friday November 19, 2021 @02:34PM
(#29281279)
The processes you mentioned are external controls, I’m talking about the protocol.
For Git, I don’t see how that’s relevant. If things that don’t have monetary value can be secure at the protocol level why shouldn’t money be just as secure.
Federal and international regulations require sophisticated bookkeeping and auditing. Banks and fintechs spend billions of dollars on fraud detection and security. Not only is it a matter of protecting their own self interests, but laws and reputation demand it.
> The point is that blockchains can have value, I don’t know anyone reasonable who doesn’t believe this. Git is technically a blockchain.
Git history doesn't have monetary value. It has practical, functional value.