Hacker News Reader

Comment by after_care | Hacker News Reader

I can see how it would make _some_ things more liquid. Imagine if the average residential real estate transaction didn’t require a titling agency. You’d be able to buy a house on a Sunday, or after 6pm. People might be more inclined to buy the $85k North Little Rock House [0] if they didn’t have to sign 2 hours of paperwork and pay $7k in fees.

[0] https://www.zillow.com/homedetails/723-W-23rd-St-North-Littl...

View on HN

You can sign pretty much everything required online at pretty much any time these days.

Last time I bought a house we needed a solicitor or conveyancers to do a title search. That info could be on a blockchain as an nft amd a smart contract could handle it.

What would be the improvement over a database?

Trust.

A blockchain copy can be better verified than a database.

If the content of an NFT or what have you disagrees with the government's records - e.g. the database you would otherwise be querying - the government's records win. The government is the source of truth for title ownership.

Well, the Government could still be the one who writes the smart contract (or commissions one or uses a global standard) and has oracles with all the data required. I know many purists wouldn't like that, but I'm just bullish on the technology, and see it going further than NFT images and the FUD that people keep arguing about, i.e right click save and ponzi schemes. There's a use-case for this tech, and it's in discovery mode at the moment. Writing it off now feels a little premature.

Reply on news.ycombinator.com