Thread by @TheStalwart

Mike Arrington blocked me years ago because I once questioned the value prop of Ripplecoin, but interesting to read about his efforts to create a property record directly on a blockchain techcrunch.com/2021/05/25/blo…

This is something we've been talking about here in the last few days, of putting Real World Assets on the chain itself, and this post talks about how legally cumbersome and difficult it is to actually do that, but it doesn't get into many details of how it works.

So I'm left with mostly questions, and still curious if the legal hoops you have to jump through to form the connection between a digital asset and a real-world asset ends up being worthwhile and gets you anywhere substantively or if you're just recreating legal rights.

Worth reading the piece. Their approach seems to be that the name in the land registry actually doesn't change, and so while the "legal" owner doesn't change, the company then recognizes the NFT owner of it as the true owner, which solves the problem of real estate privacy.

Interestingly, this seems like the opposite direction that a lot of jurisdictions are going in, where there's more scrutiny on anonymous real estate/shell transactions.

Also, there's just a million edge case questions that come up. What happens if the land record owner gets in its own trouble. What if your key gets hacked? etc. etc.