• magic_lobster_party@kbin.social
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    1 year ago

    Digital certificates has already existed for half a century. There’s nothing new. A certificate doesn’t get any more legitimate just because it’s recorded on a blockchain.

    • bjorney@bjorney.lol
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      1 year ago

      Yes but NFTs are held in trust by you, not a 3rd party business. If you want to sell your NFT to a friend you can do that without brokering the exchange through a middleman who can/will charge a cut

      • magic_lobster_party@kbin.social
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        1 year ago

        How you transact the ownership of NFTs is a different story. I’m reacting to the claim that NFT is “like a certificate of authenticity, but digital”, which is not unique to NFTs at all.

        This claim is also often misunderstood, since the NFT can only verify the authenticity of the certificate itself, not the art/asset it’s pointing to.

        I can easily create an NFT of Mona Lisa. The blockchain will see no problem with it at all. Heck, I can create 1000 NFTs of Mona Lisa if I want.

      • kitonthenet@kbin.social
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        1 year ago

        This is still solved by certificates, I can make my own self signed certificate that says it me and sign whatever I want. The only thing that crypto “solves” is over the wire man in the middle attacks, which aren’t even really a problem in the modern internet

        • bjorney@bjorney.lol
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          1 year ago

          How do I know you haven’t made 10 copies of that same certificate and sold 9 to other people?

          If it was an NFT I could see you issued 9 other copies of it before I was approached with the sale. Any other way I either have to place blind trust in you or rely on a 3rd party to handle the issuance/transaction

      • orca@orcas.enjoying.yachts
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        1 year ago

        This sounds completely logical, until you realize it’s for selling JPGs and expecting them to only exist in that one buyer’s hands.