DLTs (Distributed Ledger Technology) is the latest evolution of the public register to designate the ownership of properties and assets since the Middle Ages.
While most of the public register record only the variation of the asset’s ownership, DLTs incorporate additional features:
– they can record the change of ownership of an asset;
– they can record the value of the asset;
– they manage the fund movement from the buyer to the seller.
These features are clearly visible in the Ethereum platform, where an ERC#721 token can change ownership recording the applied price and moving the funds.
Hence, I wondered: is it possible to create a marketplace of valuable physical products that provide the same features that Ethereum provides to a digital product?
The first answer that arises spontaneously is no. DLTs are able to guarantee consensus only on the DLT’s native information, i.e. the balance of a wallet at a given time.
In the absence of authority that certifies and above all guarantees (therefore commits itself to…