I mean I guess you could tie starting your car to a specific BTC address... But a token would allow you to easily represent ownership and hand off ownership of your car to someone else. And tokens would have less fees to pay.
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But it’s just a private key. What’s the point of having a blockchain. Some “keyless” cars are already being started with devices that hold a key and sign a message to start the ignition. You can just add the option for the car owner to replace the key required to start the car.
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Conceptually ownership is tied to the physical key. With a token, it's tied to a specific coin. And it's easily transferrable and programmable: For example, we can take this concept and apply it to an AirBnBpic.twitter.com/AEh6ggTchY
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Physical assets are only secured through physical security, nothing more. Just because you carry a private key doesn’t mean the neighborhood gang, new government regime, or new regulations/policies are going to honor it.
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The definition of ownership would extend beyond that to what is defined by the gov't to what you can prove on the blockchain.
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Sure. My friends and I arrive at your house with 10 AK47s, then what? Now replace “my friends and I” with “government”
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That's an extreme scenario in which both cases would fail. A better one is: I lost my keys. Whoever finds it can operate my car. Not possible with a token.
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No, your keys don’t even matter at this point. They’re a moot point. “Get out of your house.”
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Replying to @realLudvigArt @ecurrencyhodler and
I am only trying to point the picture that physical assets are only secured through physical security. The judicial and court system provide that physical security. What I’m trying to say is that your private keys/tokenized asset would still need to be honored via physical sec.
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Replying to @realLudvigArt @ecurrencyhodler and
Your tokenized assets does not reflect the physical asset behind it. It’s just an entry on some ledger. They still need to be honored in the physical world. Physical assets need to be secured in the physical world. Money is not physical.
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Hugo Nguyen Retweeted Hugo Nguyen
Yup. Open-loop vs closed-loop. Bitcoin token-asset is closed-loop.https://twitter.com/hugohanoi/status/976601318130204672?s=21 …
Hugo Nguyen added,
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Replying to @hugohanoi @ecurrencyhodler and
God. We really do agree on everything. Wtf

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