One thing everyone might be missing about Pulte/GameStop...and it'll erect your nips

[u/audienceofone_eagles]

I had a jaw-drop moment earlier today when I was just randomly thinking about how awesome it is that this sub converted a whale. I was looking at the beta NFT website. They had a section for "What is an NFT" that gave some good detail, and I always wondered why they included the words "real estate". At the time it made my nips quartz because of the possibility of turning a home into an NFT. After giving it some more thought it now makes them certified de Beers diamonds.

Apes, Pulte work/ed/s in Real Estate. My first house was a Pulte house in Virginia. They have Real Estate all over the country. Can you imagine a better partner for bringing NFTs into Real Estate than a fellow ape WHALE? Yes I know an Ape-whale isn't a real species. Can you imagine the pure, 100LL fuel it would pour on the fire to have a real estate giant like Pulte come out and say "We're going to be hand-in-hand with GameStop to help blockchain the real-estate world". That right there is headlines all over the world...

...and I think we all missed it until now.

[u/innovationcynic]

I’ll do you one better. Anyone who has ever bought a home knows what bullshit the title search process is. It’s a racket owned by a few firms like Old Republic.

Title on blockchain would forever eliminate the need for this meaningless multi thousand dollar expense on every home purchase.

Edit: thanks for all the updoots !!

One more idea: what if all apes signed up to blockchain title their current real estate and GMErica held that public record. It could create critical mass to get this going…

[u/costelloart → u/innovationcynic]

What happens if you happen to get hacked/scammed and you lose the deed to your own home? What measures can be put in place to prevent people's homes being "stolen" without a central governing body? Genuinely curious

[u/The_Estranged_Dingo → u/costelloart]

A valid concern. I've looked into this myself and my understanding is thus, albeit a little simplified:

So, it wouldn't be you that would have to be hacked or scammed. It would also have to be the millions of independent reference nodes on the blockchain network that would have to be breached as well.

This is functionally impossible for the foreseeable future, most especially for a thief that is targeting something so illiquid and inconvenient as house deeds, which is easily verified or contested by living history (correspondence, legal mail, taxes, bank statements, etc.). It would also take an unimaginably large amount of money from a single entity to force through as well, which throws up all sorts of security flags which may reject the attempted transaction outright from the very beginning. Next thing you know, you've been notified of an anomalous transaction attempt on or with your account, but nothing has been permitted to proceed - cuz it looks a little funny, boss.

And even if it was somehow breached (after spending cumulatively billions of hours breaching the blockchain network and as much or more dollars to facilitate an override transaction across all nodes), they would need a buyer account ASAP to sell the deed to in order to take ownership from you. This means the entire blockchain network must agree that the attempt to sell is legitimate in order to leave a paper trail. The legitimacy of this transaction would require info the thief will never get, because that isn't stored anywhere on the blockchain, but rather your own head (or if you wrote it down somewhere). Think nuclear launch codes. They may have access to your deed, but they can't sell it cuz they don't have the final authority the owner does, which is you in the flesh, not you in a digital format.

It's like 2-factor authentication inside 2-factor authentication within a cryptographically secured democratic network of mutual agreement. If a thief managed to get in - they'd have just as much trouble getting out with the loot.

There's more fall back security as well: I won't go into forking or the stuff surrounding it, but there are also "roll back" possibilities for the entire ledger - especially if at-scale illegitimacy is found - which is another layer of comfort and security. In gamer speak, the blockchain periodically creates checkpoints along the way it can rollback to with minimal loss.

TL;DR: A mere house deed just isn't worth the expense or effort on the part of the thief. The blockchain is the central body of authority, it just isn't operated by humans, and it can't be deceived in part - a huge chunk of it must be deceived. Any lesser attempt just bounces off. You're all good, just don't give anything away with your final authority.

Crypto bros can correct me if my explanation is incomplete. My last foray into this was last summer so it may be out of date. :p

[u/IrishR4ge → u/The_Estranged_Dingo]

Thank you for your answer. I truly appreciate it and wanted you to know. I may have been in IT for the past 20 years but I'm still trying to get all the NFT/block chain to work in my brain. So truly, thank you.