| > The elimination of the need for municipalities to maintain proprietary databases to hold property deeds Of course it doesn't eliminate the need. Who's going to enter those records and enforce them? > Standardized and globally interoperable property records across municipalities and potentially countries Just because it's on blockchain doesn't mean it's standardised, or interoperable. > Easy to prove and verify ownership of properties, which could be used to grant access to third party services for homeowners. Yup. Until a corrupt government official puts his friend as the owner of your house and evicts you. Look, the proof is in the blockchain, and it's irrefutable, and cannot be amended. > Dapps could allow property owners to post the NFT deed as collateral and automate the loan application process to reduce processing costs. This is just a string off made-up terms that make no sense |
The staff still does what they do today, but they no longer need to maintain their own database and IT application.
> Just because it's on blockchain doesn't mean it's standardised, or interoperable.
Once it is on a blockchain it is conforming to a published standard for NFTs for that particular blockchain and others can interact with it and build additional systems that interoperate more easily.
> Yup. Until a corrupt government official puts his friend as the owner of your house and evicts you. Look, the proof is in the blockchain, and it's irrefutable, and cannot be amended.
Because corrupt government officials have never doctored official records that weren't on the blockchain?
> This is just a string off made-up terms that make no sense
No, it's not. A Dapp stands for a "decentralized application" and posting property deeds as collateral is a real thing. Further, being able to do that digitally will likely lower processing costs.