Tether ordered to produce documents showing backing of USDT [pdf]

Re:Tether ordered to produce documents showing backing of US... by vkou on Wednesday September 21, 2022 @05:46PM (#32931946)

Work to do what? Prove ownership? They don't. Attribute IP rights? They don't. Persist the art in an immutable state? They don't. Bundle any other perks with the art? They don't. Provide a channel for artists to 'sell' their art? Okay, I guess they do, but so do a million other services, ranging from websites to the coffee shop two blocks down from my apartment.

They are signed URLs that you can trade around on an exchange. This solves no problem that anyone making art has ever had.

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Re:Tether ordered to produce documents showing backing of US... by kranke155 on Friday September 23, 2022 @09:26AM (#32951623)

> Provide a channel for artists to 'sell' their art? Okay, I guess they do, but so do a million other services…

Yeah NFTs did exactly this and they’re doing a decent job. If you’re a digital artist it was really really hard to get people to buy your art without a gatekeeper/art gallery certifying it. Now it’s easy. So yes they work for specifically that purpose.

If you think coffee shops are a substitute for digital art to be sold in a permissionless global open market I don’t know what to tell you.

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