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95% of NFTs are Worthless: Report
(petapixel.com)
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this post was submitted on 21 Sep 2023
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Technology
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I would argue 99.99% of crypto and nfts are complete scams. But Blockchain is a change in how we manage and distribute data, and can remove centralization of power from humans that we would otherwise need to trust for managing autonomous systems like the data in a banks public ledger.
Could you describe a case example how that applies in practice?
Because yeah I understand that when we all have our own copy of the data someone can't falsify all our independent copies but is data being tampered like that even the problem?
I personally envision a future where we use blockchain technology to create a new direct democracy party in which every member has a unique identifier and the blockchain ledger system used to track polling data. Every individual member of the party would have one vote in each poll at ever level (federal, state, regional, etc) - for every single thing that gets a vote, and the elected politician representing that party would be required to vote based on the polling data.
Everyone would have access to a copy of the ledger to confirm their votes are counted accurately, and they can review polling data to confirm their elected politicians are voting based on polling data, and the representative would be replaced if they do not adhere to the results
@cassetti
That's risky, because the way you say it, I can check how you voted on things, and come have a serious discussion about your choices.
Much more interesting are technologies that allow to prove something, without divulging the details.
... Though again, those don't require blockchain
@alyaza @Poggervania @ComradeKhoumrag @GunnarRunnar
Everyone has a unique identifier. If you don't share that with anyone, how would they know who's vote it is? Couldn't the number be randomized and a new UUID provided on a routine basis?
Every American has a Social Security number, but it's not exactly like we're told to broadcast it to the world...... I don't see why something like that couldn't be implemented here using technology.
My point is the general ledger technology of the blockchain which would be beneficial here.
But of course this is all a pipe dream. America is damn near a Kleptocracy and both political parties have written laws to prevent a third political party from ever arising.
@cassetti @alyaza @Poggervania @ComradeKhoumrag @GunnarRunnar if you use a unique identifier more than **once**, there's possibility to correlate information and tie to a person. Even once you could use timestamps and other information to tie it to a person.
And, in relation to government, there isn't much benefit to using blockchain that couldn't be solved using other technologies.