Its not about whether you actually own the thing or not, its the record of you owning it.
Without a central body enforcing it its basically pointless, similar to if you don’t own the title of the car you don’t actually have record of ownership and therefore don’t have the rights to go along with that legally. (In theory lol)
The potential advantage of it being on an immutable blockchain means there’s a permanent record that isn’t tied to a piece of paper, and the distributed nature of most blockchains ensure there isn’t a single point of failure. (In theory again)
Plus you can trust that no one else has your car, whereas you have no way of knowing how may times your monkey was copied or how may exist outside the scope of your “certificate”
Replace “token” with “title” and “monkey” with “car,” and you’ve got a formula most people understand.
I own the title, but I don’t own the car.
Unlike the monkey, you can go find the car in the real world.
But eventually you own the car. You never own the monkey.
Its not about whether you actually own the thing or not, its the record of you owning it.
Without a central body enforcing it its basically pointless, similar to if you don’t own the title of the car you don’t actually have record of ownership and therefore don’t have the rights to go along with that legally. (In theory lol)
The potential advantage of it being on an immutable blockchain means there’s a permanent record that isn’t tied to a piece of paper, and the distributed nature of most blockchains ensure there isn’t a single point of failure. (In theory again)
Plus you can trust that no one else has your car, whereas you have no way of knowing how may times your monkey was copied or how may exist outside the scope of your “certificate”