[pavlov]

Would the NFT-locked car require a live blockchain connection and refuse to open its doors if it hasn’t been able to sync its node after a certain time? So you’d get locked out of your car if mobile Internet goes down?

If it doesn’t do this, then you can steal the car by selling the NFT, simultaneously disabling the car’s Internet connection, and driving off. Now the NFT is held by one person but the physical car is held by another.

[Jarwain]

Would likely require a form of NFT that's a little different and probably more complex than the current forn. Something about having the car key also be a cryptographic key, and transfers of the NFT invalidating keys or requiring rotation.

[nostromo]

You could shape the NFT in the form of a metal rod with notches on it. When placed inside a slot and turned, the car could validate that the right pattern of notches exist on the NFT and turn on.

If you want to sell the car, simply hand off the physical NFT to the new owner.

[woojoo666]

Well crypto allows for trustless digital transfers. Like selling a house halfway across the world, without having to fly over to hand off the keys.

[kareemsabri]

So the person halfway around the world can immediately start enjoying their house?

[woojoo666]

I assume it would be something like, the door lock is tied to the current owner as defined by the blockchain. No need for intermediaries, and no physical key.

[kareemsabri]

This is the classic definition of a solution looking for a problem though.

I don't know about "no need for intermediaries" because of course you need someone who creates and maintains this blockchain, since blockchains are not present in nature (perhaps that is a decentralized group of people but the blockchain and its maintainers are then the intermediary between the two parties) so let's focus on the no physical key part.

If the primary benefit of blockchain is that only the registered owner of the house can get access to it, on that blockchain, that's a pretty weak feature and actually pretty shit. I would like my family to also get access to my house, as well as perhaps other people like houseguests or a maid etc. Keys seem to work pretty well, nobody is pounding down the door to buy "smart locks" as far as I can tell.

I'm not saying blockchain won't provide transformative utility, it might, but it probably won't look like what we imagine it will (existing paradigms, but on a blockchain).

[pavlov]

So we're back to the original question: without an Internet connection, this blockchain-controlled door won't open, even if you're the legitimate owner.

Or if it does open without Internet, then you can buy the house NFT, but the seller disabled the Internet connection in the house so the door doesn't know about the transaction. Now you're locked out even though you theoretically own the house on the blockchain.

Turns out the blockchain doesn't solve ownership of physical objects. You still need intermediaries like the police and courts to decide who owns the house.

[MisterBastahrd]

Yes.

But real estate law does not.

[AlexandrB]

What is it with NFTs and solving theoretical problems in extremely complex ways. Car thefts at at 1/3 of what they were in the 90s, and the existing mechanisms for buying/selling cars work just fine. Why do we need to introduce car DRM with brittle, distributed access control systems? You're more likely to get your tires or cat stolen - no NFT is going to prevent that.

[davidgerard]

because then a16z can get a cut of it