The examples he gives don't work very well in practice:
>How do you prove you own a house?
The crypto idea of having a private key to a token goes wrong when you lose the key or get hacked, and then say to the court the house is still yours which it is in law
>you want to fix up your local neighborhood’s park. You have the time, but doing so will take a few thousand dollars in supplies. You could go to your neighbors ...
You might just get your neighbours to go on some fixmypark.com site and contribute normal dollars. Getting them all to buy crypto and transfer to smart contracts is not going to happen in the near future.
The whole interaction between crypto and the physical world is very clunky. It seems to work better for flipping virtual assets like jpegs and imaginary coins.
If web3 is a thing it'll probably be more stuff like funding websites by selling NFTs to have ape avatars by your account rather than interacting with parks and houses. But selling imaginary stuff and images and the like can be powerful. I mean US$ are largely imaginary things represented by 0s and 1s in some databases and they do a lot of stuff.
>How do you prove you own a house?
The crypto idea of having a private key to a token goes wrong when you lose the key or get hacked, and then say to the court the house is still yours which it is in law
>you want to fix up your local neighborhood’s park. You have the time, but doing so will take a few thousand dollars in supplies. You could go to your neighbors ...
You might just get your neighbours to go on some fixmypark.com site and contribute normal dollars. Getting them all to buy crypto and transfer to smart contracts is not going to happen in the near future.
The whole interaction between crypto and the physical world is very clunky. It seems to work better for flipping virtual assets like jpegs and imaginary coins.
If web3 is a thing it'll probably be more stuff like funding websites by selling NFTs to have ape avatars by your account rather than interacting with parks and houses. But selling imaginary stuff and images and the like can be powerful. I mean US$ are largely imaginary things represented by 0s and 1s in some databases and they do a lot of stuff.