Re:Molly White Tracks Crypto Scams. It’s Going Just Great
by ross_st on Saturday June 03, 2023 @10:42AM
(#36177079)
No, trading an NFT is not the same as the process of conveyancing.
Conveyancing includes checks to comply with property law. Trading an NFT doesn't.
Have a nice day.
P.S.: You've already admitted on the Mattererum website that the NFT isn't actually legal ownership of the property itself, but an interest in the property, and an extra step is still required to convert that into legal ownership.
If you wanted to build digital a marketplace for property interests to be speculated on like NFTs with a traditional database you could - and no, it wouldn't be more expensive. It's not been done because the demand isn't there.
Conveyancing includes checks to comply with property law. Trading an NFT doesn't.
Have a nice day.
P.S.: You've already admitted on the Mattererum website that the NFT isn't actually legal ownership of the property itself, but an interest in the property, and an extra step is still required to convert that into legal ownership.
If you wanted to build digital a marketplace for property interests to be speculated on like NFTs with a traditional database you could - and no, it wouldn't be more expensive. It's not been done because the demand isn't there.