Imagine that a house deed is stored on the blockchain, and then the owner loses their private key. How do they ever transfer that deed to a buyer?
Imagine the house owner gets drunk and plows into a crowd of schoolchildren, causing the judge to confiscate the house to pay for the victims' medical bills. The court will sell the house and send the sheriff to kick out the previous owner. The court will NOT care what the blockchain deed claims about ownership. The court will only care about their own courthouse records, and the sheriff will enforce them.
Blockchain solves currency (especially Monero) but when it comes to proving other things, it's not necessarily a complete solution, although it helps alot. Ultimately the complete solution will still involve the use of force, however that is structured. That's where Blockchain can help in the long run.
Imagine that a house deed is stored on the blockchain, and then the owner loses their private key. How do they ever transfer that deed to a buyer?
Imagine the house owner gets drunk and plows into a crowd of schoolchildren, causing the judge to confiscate the house to pay for the victims' medical bills. The court will sell the house and send the sheriff to kick out the previous owner. The court will NOT care what the blockchain deed claims about ownership. The court will only care about their own courthouse records, and the sheriff will enforce them.
Blockchain solves currency (especially Monero) but when it comes to proving other things, it's not necessarily a complete solution, although it helps alot. Ultimately the complete solution will still involve the use of force, however that is structured. That's where Blockchain can help in the long run.