Re:NFT marketplace shuts, citing 'rampant' fakes, plagiarism...
by adhesive_wombat on Saturday February 12, 2022 @01:50PM
(#30315193)
At the end of the day, the vehicle registration agency still needs to issue the license, so what's the benefit of a blockchain here? You do not need a blockchain to, say, cryptographically sign something such that it can be verified as a genuine item. And blockchain won't stop corrupt minting of licenses by the agency. And even if you did need a blockchain, the ledger wouldn't be public because the data on it is private. So now it's just a database with a ton of extra steps, complexity and kneecapped performance.
Think about all of the licensing, money printing, and registration agencies to ever exist. What percentage of them have significant corruption? Blockchains provides a lot of stability in a way more traditional human organizations fail to.