/biz/ - Business & Finance

Ok, hear me out, imagine a token that is backed by physical goods

You can get tokens from the network for free, but with the private key you can add more child tokens with metadata,
After you get the first token, you then go and get an affidavit and put that whenever has the private key of the last child token of this master public key owns the good in the affidavit (or whatever legal name )

then you can sell this token on a public marketplace for xxx amount, using a smart contracts the token is moved to the new owner and a new child token is created with a new key pair.

obviously this will only work on countries where the legal document is valid, but selling houses, cars, boats, etc on the blockchain will be huge.

thoughts?