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MysticLlama MysticLlama is online now
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Join Date: Nov 2003
Location: Seattle
Posts: 1,785
I work in the mortgage industry.

The ability to be able to set up a smart contract using chosen open source and validated legal parameters, validated and locked currency, a confirmed mortgage provider, and a validated and locked deed of trust for a property that could then be executed all at once with greatly less need for escrow, title, county recording, mortgage buyers, securitization companies, etc., would be HUGE.

Not even close to there yet, but that's where this is going longer term.

And whether whatever is out there now gets standardized or not is also just a big moving target. Both fixed quantity and floating quantity currencies have their pros and cons.

Imagine selling your car/boat/etc. to someone in a single phone transaction that has verified funds for you, real id for ownership, changes the title over, gets them a car loan, pays the fees as needed, moves liability, all with no paperwork or trips to the bank or DMV.
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Rob
1980 SC - 2011 Tiguan - 2018 Tesla M3P
Old 01-28-2022, 01:18 PM
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