You are viewing a single comment's thread from:

RE: What is an NFT? pt. 6 - Legal Documents as NFTs

in LeoFinance3 years ago

A dope contribution, @l337m45732 & @lbi-token !!

I'm not sure it's also the case in the US, but in some (or most?) Latin American countries faking house deeds and all real estate related official documents is very frequent, with lawyers being paid to perform or cover up those scams, so in that field in particular NFTized legal titles would be a groundbreaking change!

In many other cases, like the driver's licenses you mention, it'd be "life easing" too, although there could be an aspect to focus much more on, considering the current "state of the NFT enabled blockchains": privacy. As far as I've seen, apart from Secret Network, handling in a privacy protected fashion our NFT transactions, from creating templates to transferring & selling those NFTs, isn't on the agenda. I've been dreaming for almost 2 years of - at least - a "CoinJoin" equivalent for the Wax blockchain, and I hope some devs are coding in that direction, but I've no information about it.

Going back to the driver's license example: when a law enforcement officer will check if we own an up-to-date driver's license, in today's Wax design, he or she could also access our whole wallet, i.e. all our NFT assets and, in the future, all our NFTized legal documents, titles, etc. In that respect, for the moment I prefer using a paper one ;-)