April 14, 2021 Life, Liberty, and (Digital) Property At present, the primary application for NFTs is the ownership of digital collectibles. While traditional systems (in some Western countries) do a robust job of transcribing ownership of physical assets, sovereignty of digital goods is less certain. Whereas the government acts as the sole registrar in physical space, large tech companies are the sole registrars in cyberspace. There is a wide-spread concern about tech companies’ control over our digital lives; where the government is politically accountable to its citizens, large tech companies are not. Netizens desire genuine, unexploitable ownership of digital assets independent of proprietary systems. The growth in NFT adoption is largely driven by the improvements in public-private key wallets (the software that enables users to custody their keys and interact with blockchains). With the wallets being “good enough”, people are excited to experiment with an ownership model that obviates our dependency on digital intermediaries.
NFTs - Digital Property Rights
NFTs - Digital Property Rights
NFTs - Digital Property Rights
April 14, 2021 Life, Liberty, and (Digital) Property At present, the primary application for NFTs is the ownership of digital collectibles. While traditional systems (in some Western countries) do a robust job of transcribing ownership of physical assets, sovereignty of digital goods is less certain. Whereas the government acts as the sole registrar in physical space, large tech companies are the sole registrars in cyberspace. There is a wide-spread concern about tech companies’ control over our digital lives; where the government is politically accountable to its citizens, large tech companies are not. Netizens desire genuine, unexploitable ownership of digital assets independent of proprietary systems. The growth in NFT adoption is largely driven by the improvements in public-private key wallets (the software that enables users to custody their keys and interact with blockchains). With the wallets being “good enough”, people are excited to experiment with an ownership model that obviates our dependency on digital intermediaries.