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19753796 No.19753796 [Reply] [Original]

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?

>> No.19753847

smart contracts are not legally binding bruh

>> No.19753869

>>19753796
Ok, hear me out, imagine a poo poo that is backed by pee pee

You can get poo poo from the pee pee for free, but with the pee poo key you can add more poo poo with pee pee,
After you get the poo, you then go and get a pee pee and put that whenever has the poo poo of the last pee pee of this master poo key owns the pee in the poo (or whatever pee poo )

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

obviously this will only work on countries where the legal poo pee is valid, but selling poo, pee, poopee, etc on the blockchain will be huge.

thoughts?

>> No.19753885

>>19753847
not in the smart contract, but in a legal document with a lawyer you put the public key of the parent token, and clause of whatever saying whoever owns the last child token owns the good.

>> No.19753894
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19753894

>>19753869
HOLY FUCKING SHIT THATS GENIUS

>> No.19754013

>>19753885
the problem here in my opinion is that a blockchain by design tries to not rely on trust. if you rely on trust, the blockchain is not needed. you could just program another ebay clone.

>> No.19754050

>>19753796
Sounds like a lot of retarded extra work in order to sell an item that you could just sell without doing any of that and exposing yourself to unnecessary risk.

>> No.19754109

>>19753796
Y does the market need this?
>it doesnt

>> No.19754185

>>19753796
It's happening on Coinmetro in July.

https://coinmetro.com/blog/lets-talk-about-the-csd/

Bonds being sold over blockchain. First up is some Japanese ski resort but there'll be new products ad-hoc.

>> No.19754243
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19754243

>>19754185
>some Japanese ski resort
>YUGE BUY SIGNAL

>> No.19754685

>>19754243
it's their first, test project you retard