Comments by "Klakkalakka" (@klakkalakka6704) on "NFTs Are Legally Problematic ft. Steve Mould \u0026 Coffeezilla" video.

  1. It could technically be a useful technology, but that would only be the case when there is some inherent problem with authorities which currently register transactions or ownership. The technologies itself is in situations of maximized potential, a lot less inefficient than current technology. That is because the added checks make it inherently less efficient than regular technologies. Now the problem is that we don't live in a decentralized society. Accumulation of capital and societal rules on who gets to allocate capital, tend to lead to large players taking over the infrastructure behind the blockchain, causing it to use centralized authorities (non-government). These authorities, can in turn control the blockchain. You destroy one authority to get a new one. This time with less efficient technology. Whereas our governments are somewhat democratic, companies controlling infrastructure in practice definitely are not. Long story short: Within functioning democratic authorities, you will end up with a less democratic system and less efficient technology.
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