Quote from: larry_vw_1955 on Today at 02:39:42 AM

Quote from: PrimeNumber7 on Today at 12:51:03 AM

For example, the Los Angeles County Register of Deeds could issue NFTs to real estate owners representing ownership of their property.

Some things you just don't see like this headline:

"Register of Deeds moves to NFTs to lower costs for real estate owners."

I could see them using blockchain tech but not to lower the costs for citizens that type of thing doesn't happen.

Maybe not in Los Angeles, or anywhere else in CA. I could see this happening in other parts of the country.

There are taxes associated with transferring property from one person to another, however, the costs I was referring to were things such as performing a title search, and title insurance, both of which are paid to entities other than the government.

The tricky part about these types of transactions is how to handle situations in which the owner claims to have lost their private key. Technically speaking, there are ways the issuing authority of the NFTs could transfer the NFT/token (for example by having a smart contract have the ability for their private key to be able to transfer an NFT unilaterally), but this would raise some questions about the benefits of using the bitcoin blockchain (or any other blockchain) to track property ownership. Maybe one option would be for the issuing authority to attack a court order to any transaction in which they unilaterally transfer ownership of a property.