So Bytom would like to bridge the worlds of physical and digital assets. This is not the first crypto trying to do that. But how exactly are they planing to do that? What about the oracle problem? What entities will act as oracles, and how will it deal with legal issues. These aspects by all means are not trivial.
I still have to see a real life solution. Everything is fine as long as we stay in the domain of the computer programs, that is, smart contracts. It works. But the moment we leave the computer space and enter the real space, who will enforce the contracts, because we have to deal with tangible objects. And you say we will transact around the world, which is a great idea, but the complexity of dealing with laws and legislations of various countries is enormous.
If you ask me, we are still in the domain of theory when it comes to bringing physical world assets onto the blockchain. But, without efforts in that direction, nothing will ever change, so it's great that we are trying.
Topic: The Platform to Connect All Assets both Physical and Digital (Read 111 times)
https://medium.com/@Bytom_Official/bytom-mainnet-release-milestone-50536c920f8e
Bridging the digital and physical world assets and connecting them to the public blockchain will change the way that we are able to transact around the world. Bytom is one platform that is hoping to become the largest platform to do so which will enhance liquidity, security and value of assets.
I need a better understanding of all the different assets since my background isn't in finance but I think it's pretty exciting that I am interested in taking a proactive role now that blockchains are allowing us to do so.
Bridging the digital and physical world assets and connecting them to the public blockchain will change the way that we are able to transact around the world. Bytom is one platform that is hoping to become the largest platform to do so which will enhance liquidity, security and value of assets.
I need a better understanding of all the different assets since my background isn't in finance but I think it's pretty exciting that I am interested in taking a proactive role now that blockchains are allowing us to do so.
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