565
Hackers steal NFTs worth millions. In other news, NFTs worth millions.
(www.theblock.co)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 17 Dec 2023
565 points (95.5% liked)
Technology
59651 readers
1906 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
You seem to misstakenly believe that I support this, I don't, I just argued against a dumb reason as to why it wouldn't work.
And what's your argument?
I recomment that you read my earlier comment to read my argument.
You claim that "governments order companies to do stuff all the time", but how does that apply to an entry in the blockchain, which we've agreed is the authority on who owns property. The hint is: a company couldn't change an entry in the blockchain, even if the government ordered them to do it.
Why would they change an entry on the blockchain?
To make the dumb idea of tracking peoperties on the blockchain there needs to be admin tools to restore the NFT to the proper owner.
If the NFT gets transfered to someone else illegally, there needs to be tools to add another entry to the chain with a note saying that the NFT was stolen, and this new change restores the ownership to the lawful owner.
The whole point of the blockchain technologies is that they're (supposedly) immune to state interference. What's on the blockchain is the "truth". The state wouldn't have any power to restore the proper owner of the NFT / house because they chose to trust blockchain instead of having control over the database.
If states can "restore ownership to the lawful owner", they can also seize people's cryptocurrencies.
That's why no state would ever have house registries on a blockchain that they didn't control. And if they did control it, there's no point in using a blockchain when they could just use a traditional database.
Which is exactly what I have been trying to say