Re:My First Impressions of Web3
by simias on Friday January 07, 2022 @06:35PM
(#29846507)
Well sure but that's the "analog gap" problem. NFTs don't fix that, do they? In the end there'll have to be something that will tie a given NFT to a given watch, and one way or the other it'll be the same issue as tying my CSV to a given watch.
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I agree, one can’t easily tie an NFT to a physical object. Nothing guarantees that the watch and NFT change ownership in tandem.
All I’m saying is that a serial number doesn’t really prove anything because it’s trivial to copy. A private key inextricable from the object would be better, because it could generate timestamped signatures as proof.
But whatever you use would still be easier to implement using traditional tech than web3, because the problems they solve are orthogonal.
Yes. I regret not being more clear in my original comment, because the scheme I alluded to is an application of public key cryptography, such as Certificate Authorities, and is not about cryptocurrencies specifically.
Re:My First Impressions of Web3
by meheleventyone on Saturday January 08, 2022 @04:33AM
(#29850058)
Even with time stamped signatures you can clone the signature onto a fake watch.
The point of a signed timestamp (and/or challenge string) is that it demonstrates the signature is freshly generated, proof that the device is authentic right then and there. An old copied signature would not have this property.