Tokenization of off-chain things trust-minimizes only transfer of title. Short of entangled proplets
http://www.fon.hum.uva.nl/rob/Courses/InformationInSpeech/CDROM/Literature/LOTwinterschool2006/szabo.best.vwh.net/proplets.html …
it doesn't do anything about actual control of the actual off-chain assets; it doesn't even guarantee respect for the title. h/t @eric_lombrozo's tanks.https://twitter.com/brucefenton/status/992023735141101569 …
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Agreed, and from the compliance corner even just this improvement will streamline regulatory reporting, forensics, predictive analytics, fraud detection, and more. (Yep, it's the boring stuff and I understand completely how few people care, but for us, it has a big impact.)
Except that the regulations probably ban it, even though it would improve compliance and enforcement.
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Even this seems a stretch. I have no idea how a decentralized database somehow makes compliance easier than a simple query of a mysql database.
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It makes for more reliable evidence in court, and if done on a public blockchain controls the burden of lawsuit and changes the means of enforcement.
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Hmm, I hear you but seems like a marginal improvement. Tampering with title databases is already illegal, that seems like a pretty strong incentive to not do so (and strong reasoning to assume no tampering by default).
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For existing securities quite true. The main thing trust-minimized tokens have given (to scammers or to a new generation of global entrepreneurs, take your pick) is simply the ability to cut the Gordian knot and route around the whole very bureaucratic and restrictive mess.
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Not so sure. Although financial regulations are rife with recordkeeping requirements, most (thankfully!) are agnostic regarding the "how;" they care only for the "what." Some real room to innovate there, and yes, I just applied the word "innovate" to recordkeeping.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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