Quote from: Torque on Today at 01:34:49 PM

Quote from: empowering on Today at 01:31:37 PM

Thing is, things develop and things change, so I do not imagine the deed issue being around for too long... and there are workable workarounds, for example, in the US at the moment you are correct re the deeds they cannot currently be linked to NFTs (yet) .... however what can and had been done is that the property (if we are talking real estate) , is first transferred into a LLC, and then the company, is then minted to a NFT, and it is this company that is bought or sold, and rights to the company (and therefore the property are stored on the blockchain)

.... and I think there is a good chance that this space will continue to evolve.

There are also solutions for tokenised/nft for equity release from properties too.. which again has the potential to evolve going forward.

....and as mentioned in previous post, I am pretty sure that we will be seeing this within the art collection industry too, and possibly wine also.

....could all this be done using tokens/smart contracts and sans "NFTs" yeah totally..

NFTs and a blockchain don't add anything useful or missing to any of those scenarios you mentioned, because the existing, legally-binding ownership laws, contract laws, deeds, etc. already cover it and cover it well.

So again, the point of NFTs then? A solution looking for a problem that doesn't exist.

Welll sorta, using blockchains/smart contracts , could streamline and speed up the entire process (instant settlement, in a world that is moving more and more to instant gratification) as real estate transactions can be notoriously slow, when they do not have to be. Also, over my side of the pond at least, deed transfer companies and the like haven ordered to "come up to speed" in terms of usability/ease of use/speed AND COST! , so there is a entrenched set of actors within this aspect and all aspects of real estate , that are ripe for the pickings in terms of disintermediation.... Also tokenisation one way or another of property (assets in general) allow also the ability for fractionalised ownership/investment of property, or at least has th potential to make it easier.

I mean, banking also has and had established players, laws regulations too.... and had not innovated for many many decades, but the box needed shaking... and if anything the current status quo of property transactions, is even more archaic and even slower, than bank is, and that is saying something.

Things change and things evolve.

Market will tell us going forward if this happens or not...

I try not to think in absolutes