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Joined 8 months ago
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Cake day: August 30th, 2024

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  • A limited access club can mint NFTs for membership, allowing the holders to personally trade their access in a transparent way and provides an encrypted method functionally equivalent to a One Time Pad (One of the most, if not the MOST secure encryption method in existence) so building access can be transferred instantly between rights holders, as well as providing a secure inherent messaging between members

    You can do this with a database.

    This can also be generalized for apartment access. Need a place to stay? You can purchase the tenant NFT from the current renter, and have access to the property securely within seconds

    You can do this with a PIN code.

    Lets say a LLM is tasked with constantly sourcing the cheapest source of tin for industrial processes, and that all the tin producers set lots of raw material as NFTs. (In this case it isn’t an ideal use as the lots are not unique, but the underlying programatic contract execution doesn’t care and treats them as unique) so the LLM calculates shipping and price and automatically buys lots of NFTs to match the need, which ship out from a port halfway around the world that afternoon

    Now 2 days into the 12 day shipping time, the LLM notices that there is a sudden need for tin closer to the current ship location than the initial destination and contacts the LLM of the company that posted the tin need, and offers the lots of NFTs on the ship, the other LLM agrees and the contract is made, the ownership of those lots are altered, the shipping manifest of the cargo vessel is updated and the shipping route may or may not be altered based on the judgment of the LLM handling the cargo ship. All of this happens in a matter of seconds. Once the transaction is complete, the original LLM now goes and searches for another source of tin

    You can do this with databases.

    The biggest benefit of NFTs is reducing the friction of complex logistic changes allowing companies to find advantages that pass too quickly for humans to notice or make best use of in a way that can be legally as binding as any other signed contract in a court of law.

    In any situation where you might be tempted to call an NFT “legally binding”, it’s not the NFT that’s binding, it’s a contract, and the NFT is just a proxy for the contract. The NFT adds no value.



  • Vance has an old school polotician side. If left to himself, he wouldn’t go against the courts for example.

    Don’t be so sure about that.

    “I think that what Trump should, like, if I was giving him one piece of advice, [is] fire every single mid-level bureaucrat, every civil servant in the administrative state,” he said in 2021 on a podcast. “Replace them with our people. And when the courts — because you will get taken to court — and when the courts stop you, stand before the country like Andrew Jackson did and say, ‘The chief justice has made his ruling. Now let him enforce it.’”

    Now, Vance doesn’t have the iron grip on 33% of the country that Trump has, so it’s possible that he’d have to be more cautious. But he’s definitely not against ignoring the courts in principle.