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Hacker News
Wait - is this finally crypto’s mass adoption event we’ve all been waiting for?
by jnyst1985
finally, economics explained by cows, so i can finally understand it
> We take the cow, which is a real and tangible asset, and transform it into a digital asset
Fine... if you don't need the cow too.
by chrisjj
Tokenizing physical things is kind of dumb for one reason: it's not trustless and it relies on there being a big mean cop somewhere in the transaction. Say i tokenize my couch and then sell you the the token. Suppose you show up to my house to claim your couch. I can tell you no. You can then sue me and try to get the state to send a big mean cop to get it, or it's equivalent in cash.
I've yet to see a scheme that makes this trustless somehow. If you don't have that you don't have anything.
by idiotsecant
"It also includes built-in safeguards that allow the farmer to swap one dead cow for a live one."
Is that backwards? If you own the token for a cow, and it dies, what happens?
by Animats
Brilliant idea, but why the crypto? Couldn't you simply do the collar + web connection... without crypto?
by bernardom
Using livestock as collateral is one of the oldest ways to obtain a loan.
by tiffanyh
Real World Assets (RWA) is the hot stuff these days. While it is still early the mega-banks are starting to pile on.
One of the reasons is that any infrastructure built on blockchain is reusable for free by everybody (minus transaction free). Uniswap and Aave have been chugging along for years and are starting to acquire reputation beyond retail. Privacy is moving along as well where you can tokenize, say, bonds and hide the in/out flows with ZK proofs.
You can track RWA issuance here https://app.rwa.xyz/
by vvpan
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- Hacker News
- Wait - is this finally crypto’s mass adoption event we’ve all been waiting for?by jnyst1985
- finally, economics explained by cows, so i can finally understand it
- > We take the cow, which is a real and tangible asset, and transform it into a digital asset
Fine... if you don't need the cow too.
by chrisjj - Tokenizing physical things is kind of dumb for one reason: it's not trustless and it relies on there being a big mean cop somewhere in the transaction. Say i tokenize my couch and then sell you the the token. Suppose you show up to my house to claim your couch. I can tell you no. You can then sue me and try to get the state to send a big mean cop to get it, or it's equivalent in cash.
I've yet to see a scheme that makes this trustless somehow. If you don't have that you don't have anything.
by idiotsecant - "It also includes built-in safeguards that allow the farmer to swap one dead cow for a live one."
Is that backwards? If you own the token for a cow, and it dies, what happens?
by Animats - Brilliant idea, but why the crypto? Couldn't you simply do the collar + web connection... without crypto?by bernardom
- Using livestock as collateral is one of the oldest ways to obtain a loan.by tiffanyh
- Real World Assets (RWA) is the hot stuff these days. While it is still early the mega-banks are starting to pile on.
One of the reasons is that any infrastructure built on blockchain is reusable for free by everybody (minus transaction free). Uniswap and Aave have been chugging along for years and are starting to acquire reputation beyond retail. Privacy is moving along as well where you can tokenize, say, bonds and hide the in/out flows with ZK proofs.
You can track RWA issuance here https://app.rwa.xyz/
by vvpan