NfTs were supposed to very boring, like selling a house with a smart contract eliminating much of what a title company and other middlemen do reducing fees and paperwork(already been happening for the last 3 years). Or gaining control of your own health records instead of a third party for-profit company. This could allow you to be the only person who gives insurance companies or health providers or courts permission to view your records and no one is making money off the transaction as they normally do right now in some companies database.
Smart contacts are exactly for that. They can automate various processes, including payments, data recording, asset transfers, all as long as the pre-defined conditions are met. There will still be things third parties need to do but not everything. Especially proof of ownership or fractional ownership with complex conditions. Very expensive ot just not possible using third parties.
Removed by mod
NfTs were supposed to very boring, like selling a house with a smart contract eliminating much of what a title company and other middlemen do reducing fees and paperwork(already been happening for the last 3 years). Or gaining control of your own health records instead of a third party for-profit company. This could allow you to be the only person who gives insurance companies or health providers or courts permission to view your records and no one is making money off the transaction as they normally do right now in some companies database.
Removed by mod
Smart contacts are exactly for that. They can automate various processes, including payments, data recording, asset transfers, all as long as the pre-defined conditions are met. There will still be things third parties need to do but not everything. Especially proof of ownership or fractional ownership with complex conditions. Very expensive ot just not possible using third parties.
Removed by mod
Homes have already been sold using this tech… for several years. Good thing about it is you don’t have to use it at all.