LogFAQs > #960434227

I think it's a good idea, but they're so new that the application of them is super dumb and basic right now. Unique traceable hashes, linked to an address, tied to an image? Make collectable art, makes sense. But in the future it could be used for things like government IDs, vaccine card, etc. Completely traceable and non-forgable. Feel bad for all the kids in 50 years that can't sneak into bars though with fake IDs.

Judgmenl posted...

Someone's gonna have to explain it because I honestly have no idea.
It's like its own brand of psuedotechnology.

The image is hashed I think, and is tied to a crypto wallet. Which because of the blockchain is completely traceable. So it shows that "this image" is "owned" by a specific wallet. Yeah anyone can see the picture, but it's tied to a specific wallet. This wallet can sell it to someone else of course, then it gets transferred from one wallet to the other through the blockchain. Again, neat stuff, application is very young though.

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