[deepu256]

Ok, then show me a credible 3rd Party where I can store my ownership data apart from Government. (Most corporations which currently store my data proved that they cannot be trusted and they only look after their shareholders. Not users.)

[p4bl0]

> show me a credible 3rd Party where I can store my ownership data apart from Government

Your "ownership data" does not have any intrinsic value. It only has value because an external authority (your Government's justice institutions) is able to enforce it.

Writing something on a blockchain has no magical effect. You cannot remove necessary third-parties like that.

> Most corporations which currently store my data proved that they cannot be trusted and they only look after their shareholders. Not users.

True, but unrelated.

[deepu256]

"My ownership data" has value. perhaps not to you. But for people i interact with.

Example :- My education degree is something that I own. It can be very useful if I can quickly prove to the world that I indeed really have that degree. (like Twitter allows to prove you own an avatar NFT) . It would be super helpful if this was on a blockchain instead of some university database with a cumbersome process to avail transcripts.

[p4bl0]

> "My ownership data" has value. perhaps not to you. But for people i interact with.

I don't think you understood what I meant. I said it has no intrinsic value, meaning that it has no value in itself.

> My education degree is something that I own. It can be very useful if I can quickly prove to the world that I indeed really have that degree.

The fact that it is written in a blockchain that you have a degree has no value in itself, it only works if a necessary trusted third-party, the university where you got that degree, approves it. You are not in a decentralized and fully adversarial setting. You do not need (nor want, for efficiency purpose mainly) a blockchain to solve this problem.

What you want is a cryptographic certificate (just like an X.509 SSL/TLS certificate) of your diploma signed by your university, which would play the role of a Certificate Authority, and which you can trust because the government that accredited your university to deliver actual diplomas has a root certificate (it acts as a Trusted Certificate Authority) and has signed the one of your university with it.

> like Twitter allows to prove you own an avatar NFT

Twitter is a central authority and could very well associate any "NFT avatar" with any of its users without relying on any blockchain.

[acdha]

Right, but think about what happens if there’s some question – say you ran for office and your opponent says you’re lying about your degree or GPA.

People will trust the institution – if a reporter calls them and they say “yes, they earned it” most people will not question it. If they say “never heard of them”, a record on a blockchain won’t help much because it disagrees with the canonical source and then you’ll be hearing about how that degree record was published in error or fraudulently, or that school is a diploma mill, etc.

Electronic records are nice but a 1970s public key signature works just as well at a fraction of the cost because ultimately it comes down to whether or not the reader trusts the issuer.

[m3047]

> if I can quickly prove to the world that I indeed really have that degree.

So as not to bury the lede, certificates of authority as to any legitimacy are a lot like Certificate Authorities; it's the Conway principle. They always want "revocation authority" and it's never "proved" unless they check it again this time... just for you!

I happen to still interact with people who are affiliated with the institution where I "stole" an education. I legitimately obtained certification for completing a course of study in numerical analysis; no cheating. A few years ago I don't know what they did but I strongly suspect a butt sniffing tool for alumni was introduced, because people started being like that.

Cutting to the end, a couple of years ago I ordered a transcript for $11, by regular post, paid with a check. I strongly suspect that now buttsniff shows something like "transcript available".

[blueflow]

Good example of a signature! The institution who awarded you the degree should sign it. They are the authoritative source of this information. Everyone who trusts the institution will be able to verify your copy of the signed document. No communication to the institution necessary.