cm0002@lemmy.world to memes@lemmy.world · 3 days agoEtherium logo finally makes senselemmy.mlimagemessage-square128fedilinkarrow-up11.76Karrow-down122cross-posted to: [email protected]
arrow-up11.74Karrow-down1imageEtherium logo finally makes senselemmy.mlcm0002@lemmy.world to memes@lemmy.world · 3 days agomessage-square128fedilinkcross-posted to: [email protected]
minus-squareKnock_Knock_Lemmy_In@lemmy.worldlinkfedilinkarrow-up1·2 days agoThe off chain legalities are the tricky part of a real estate crypto deal. Can changing house ownership really be as simple as making an alterations on a decentralized ledger?
minus-squaredx1@lemmy.worldlinkfedilinkarrow-up1·edit-28 hours agoYou can mimic any existing setup for tracking deeds and similar, or invent new ones, with the added quality that they can’t be doctored. Once something is recorded, it’s recorded for good.
minus-squareKnock_Knock_Lemmy_In@lemmy.worldlinkfedilinkarrow-up1·6 hours agoBlockchain is immutable but legal contracts usually are not. They have break clauses, implied rights etc. I suspect everything can be implemented correctly, but my doubt isn’t technical, it’s legal. Think of a smart contracts like a vending machine. You can’t just build one and start selling real things from it. Laws need to be followed.
The off chain legalities are the tricky part of a real estate crypto deal.
Can changing house ownership really be as simple as making an alterations on a decentralized ledger?
You can mimic any existing setup for tracking deeds and similar, or invent new ones, with the added quality that they can’t be doctored. Once something is recorded, it’s recorded for good.
Blockchain is immutable but legal contracts usually are not. They have break clauses, implied rights etc.
I suspect everything can be implemented correctly, but my doubt isn’t technical, it’s legal.
Think of a smart contracts like a vending machine. You can’t just build one and start selling real things from it. Laws need to be followed.