Right, I agree that not all NFTs are illegal just because one might infringe IP. But the broader issue is enforcement, blockchains, by design, don’t offer mechanisms to remove or suppress infringing or malicious content.
And with legal documents like deeds, I get that stealing a key is like stealing a physical one. But the difference is that if someone steals my house key, I can rekey the lock. If they steal my private key, the blockchain can’t “reassign” the NFT unless a centralized authority steps in, defeating the idea of decentralized, immutable ownership.
Sure, you could update the legal system’s contract to point to a different NFT, but again, that requires a central entity with authority to override what’s on-chain. So at that point, we’re counting on some central authority to fix blockchain’s problem of not having reversibility.
So this goes back to the main question, if we need centralized enforcement and off-chain enforcement, anyway, what actual value does a blockchain add compared to an access-controlled database?
if we need centralized enforcement and off-chain enforcement, anyway, what actual value does a blockchain add compared to an access-controlled database?
Enforcement of laws and documentation of ownership are two separate functions. Blockchain does the former only if everything is digital (like money).
Let’s take licence to drive as a pure real world enforcement example. There are multiple countries so there are multiple centralised databases. Blockchain allows all those databases to be merged without needing central access control
Right, I agree that not all NFTs are illegal just because one might infringe IP. But the broader issue is enforcement, blockchains, by design, don’t offer mechanisms to remove or suppress infringing or malicious content.
And with legal documents like deeds, I get that stealing a key is like stealing a physical one. But the difference is that if someone steals my house key, I can rekey the lock. If they steal my private key, the blockchain can’t “reassign” the NFT unless a centralized authority steps in, defeating the idea of decentralized, immutable ownership.
Sure, you could update the legal system’s contract to point to a different NFT, but again, that requires a central entity with authority to override what’s on-chain. So at that point, we’re counting on some central authority to fix blockchain’s problem of not having reversibility.
So this goes back to the main question, if we need centralized enforcement and off-chain enforcement, anyway, what actual value does a blockchain add compared to an access-controlled database?
Enforcement of laws and documentation of ownership are two separate functions. Blockchain does the former only if everything is digital (like money).
Let’s take licence to drive as a pure real world enforcement example. There are multiple countries so there are multiple centralised databases. Blockchain allows all those databases to be merged without needing central access control