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> You literally said that all the data is stored somewhere else.

No, I didn't. The NFT would be stored on chain and inside the NFT would be hash of the data that is stored off chain. Anyone can then source the off chain data from any location and then compute the hash of that data and compare it with what is stored on chain.

> It stores some unenforceable token that is only valid as long as those who actually enforce ownership agree that it proves anything.

This is no different than any other system. What makes that Oracle database that your property assessor uses to store your parcel information in enforceable? Oh yeah, the government.

> > You literally said that all the data is stored somewhere else.

> No, I didn't... NFT would be hash of the data that is stored off chain.

Yes. You literally said all the data would be stored somewhere else.

> This is no different than any other system.

If this is no different than any other system, then it has no benefits of any other system.

> What makes that Oracle database that your property assessor uses to store your parcel information in enforceable? Oh yeah, the government.

Indeed, the government.

Who makes your fantasy tokens referring to physical objects enforceable? Oh right. No one.

> Yes. You literally said all the data would be stored somewhere else.

Meta data (ownership data) is stored on-chain. (supplemental data is stored off-chain) So again, no I did not say that all data is stored somewhere else. The meta data that is stored on-chain serves an important role.

> If this is no different than any other system, then it has no benefits of any other system.

We are talking about the enforceability. Governments can choose to embrace a blockchain as their system of record. If they do, then NFT deeds are as enforceable as traditional property deeds.

> Who makes your fantasy tokens referring to physical objects enforceable? Oh right. No one.

The government would in this particular case. Maybe in other cases it would be a company and in still other cases it could be an on-chain contract.

> So again, no I did not say that all data is stored somewhere else.

This is splitting hairs. Actual data that is actually relevant to the property, is stored somewhere else. Which is ironic because elsewhere you stated: "but they no longer need to maintain their own database and IT application."

Oh look. They have to maintain their own database for the actual data

> The government would in this particular case.

Not in this particular case. But in all cases.

> Maybe in other cases it would be a company

So. You need central entities to verify and enforce rights to physical objects. You need central entities to store the actual data pertaining to objects and people.

So the point of blockchain in all this is...?

The blockchain is a piece of additive technology. It doesn't replace existing relational databases, nosql databases, object storage, etc. You can store data in any location you like (doesn't have to be a centralized location) and then verify it's authenticity later by recomputing the hash and comparing that to the hash stored on-chain in the NFT. Also, just because some data is stored off-chain does not mean you need to run your own infra. You could pay a hosting provider to operate it for you.

Public permissionless blockchains help in easing the verifiability of ownership records, transfer of ownership records, and auditability of transactions. In the digital goods you don't necessarily have to rely on a single third party like a government. Checkout Chia offer files (https://chialisp.com/offers/) for an example of this. You can post these offer files on Twitter, forums, text messages, emails, etc.

> The blockchain is a piece of additive technology.

To add it you need to show it produces more value than the problems it causes.

> It doesn't replace existing relational databases, nosql databases, object storage, etc.

Hm. Strange. In a comment elsewhere you literally claimed this, emphasis mine: "The staff still does what they do today, but they no longer need to maintain their own database and IT application."

> Also, just because some data is stored off-chain does not mean you need to run your own infra.

And the people will run the infra for you out of the goodness of their hearts? And of course the data that you store "somewhere elsewhere who knows where" will of course be easily available and accessible in perpetuity because blockchain, right?

Why is it that most NFTs in the world are now pointing to non-existent files?

> Public permissionless blockchains help in easing the verifiability of ownership records, transfer of ownership records, and auditability of transactions.

They don't. Moreover, they only work for the most trivial of cases, and make actual real-world scenarios hard or impossible. I've provide several of those, and you answer? "No one is claiming blockchain is helping in that situation and that's okay!"

> In the digital goods

We're not talking about digital goods.

traveler01 1191 days ago

Sorry, don't mean to be rude but this is the most useless discussion I've seen here.

I think it's fairly easy to understand (but you clearly hate the technology for some reason). The proof of ownership would be in the blockchain. NFT X represents X property, the address owning that NFT would technically own that NFT.

Also NFTs may also have descriptive data on them, so technically you could have a description marking that NFT as X property.

It's very much feasable, but from what I'm reading from you, you just hate the technology for the sake of it. Reminds me of Apple haters.

> he proof of ownership would be in the blockchain. NFT X represents X property, the address owning that NFT would technically own that NFT.

On top of that you need many more documents actually linking the actual physical person with that wallet. And additional documents dealing the actual property.

And of course "oh it's just simple record pointing to an address" is exactly why I keep saying that crypto proponents have this childlike inability to imagine anything beyond the most trivial of use cases.

Examples where "the address owning that NFT would technically own that NFT" falls apart and "useless discussion" is the one I'm having, not crypto-absolutists with their trivial cases and increasingly complex workarounds:

- ownership disputes: https://news.ycombinator.com/item?id=27212564

- ownership transfer: https://news.ycombinator.com/item?id=27217681

> you just hate the technology for the sake of it.

As wrote elsewhere: I've had this or similar conversation many, many times. Crypto proponents can only come up with the most trivial examples, and for anything more complex they rely on magic and increasingly complex and arcane constructions that fall under their own weight.

Edit:

Just in this discussion: we "don't need a centralised database", but we need a centralised database, or an external party to store our data that also needs to be available and accessible by anyone, but also reliable, maybe federated, or a local server, and it's also standardised, but maybe third parties will make it standard for governments, or maybe someone will provide infra to store data, or maybe it will be hash of data that may or may not be standardised, or...

And with all that it still doesn't solve or help any of the complex issues that arise from property ownership.

Yizahi 1191 days ago

Ownership data is not stored on chain because it is technically impossible. Chain only knows which wallet owns which URL-hash, and nothing else. Which real life person owns which real life physical or digital off-chain artifact (like deed, or picture, or a key), chain doesn't know and can't know. This info is stored in the centralised DBs managed my centralised entities like a company or government.

Ownership data meaning the NFT itself and which can be proved by the holder using his/her private key. Off-chain data (such as personal information or supplemental documents) doesn't have to be stored in centralized databases. It could be stored in federated systems, or a local computer at the owner's residence, or a hosted server controlled by the owner. The chain can hold a hash of the identifying information and then an application can pull the data from wherever it is stored and referenced and check that is correct by recomputing the hash and comparing that to what is stored on chain.

Yizahi 1191 days ago

"federated systems, or a local computer at the owner's residence, or a hosted server controlled by the owner."

That's just centralised in a different form. Or more precisely - not decentralised.

Sure, some app can interact with centralised DB holding all actual information like deeds or music or whatever. Why do you need NFTs for that? Centralised BD must me utilised to track ownership of actual data or items by real people and it won't work any other way due to the IP rights and complex ownership agreements. NFTs are useless and impotent for this task.

> Off-chain data (such as personal information

So actual data that proves that this physical person is the owner of this physical asset.

> It could be stored in a, b, c

> then an application can pull the data from wherever it is stored

Ah yes. Because when it's stored in a non-centralised database of "local computer at owner's residence" or "hosted server controlled by the owner" that data is easily accessible and retrievable.

JohnFen 1191 days ago

> The NFT would be stored on chain and inside the NFT would be hash of the data that is stored off chain

Ok, but what's the benefit of doing that?