this post was submitted on 07 Mar 2024
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Good. I hope that once companies stop putting AI in everything because it's no longer profitable the people who can actually develop some good tech with this can finally do so. I have already seen this play out with crypto and then NFTs, this is no different.
Once the hype around being able to make worse art with plagiarised materials and talking to a chatbot that makes shit up died down companies looking to cash out with the trend will move on.
So I'm mostly in agreement with you and I've said before I think we're at the "VR in the 80's" point with AI
I'm genuinely curious about the legit use you've seen for NFTs specifically though. I've only ever seen scams
An NFT is pretty much just some data put on a blockchain, it has the same use case as most other blockchain tech: Data integrity and transparency. NFTs specifically could be useful as a framework for showing ownership of something, for example vehicle ownership could be stored in this manner. It would give you a history of previous owners and how old the vehicle is. My country has something like this but making inquiries for a vehicle's history is pretty annoying and could be improved with this tech.
That's a problem that's already solved though. Nfts are really just a way for crypto bros to scam others.
As I said: Having the vehicle register stored on a blockchain would make it very easy to access a vehicle's history. Currently you need to submit a request and it takes days for them to get back to you.
NFTs aren't the solution to this, public read access to the database is.
A blockchain is a form of database that would be really good for this because of how it maintains all database transactions while being human readable easily. Most databases aren't human readable and you need to design an interface for it. How NFTs are stored in blockchains is a good example of a very specific purpose that would make this better. Vehicle databases also don't have a clear connection to previous owners and that data needs to be retrieved manually while a blockchain keeps every modification easily visible.
Obviously don't use a blockchain used for speculative investment like Etherium but the government can just host their own without any stupid finance shit on it, just a database for vehicles.
Yes very human readable. All the "benefits" blockchain are in a properly managed database, but the database takes about the power of 3 or 4 lightbulbs to manage, the Blockchain takes as much power as Ireland.
Have you seen like an MSSQL database? That is a lot more readable and easier to display on a frontend. Also like every blockchain have an existing open source frontend you can redesign the look a bit and just use.
A blockchain to manage a database for vehicles takes as much resources as a classic database. What causes the huge and ridiculous power drain is mining, which is not something you would be doing for a database to store vehicles.