Sorry to make this long, hastily put together post but thought it may interest someone out there!
This past holiday season I was having a discussion with my family regarding the current state of crypto (as I see it) and learning how it still boggle's their mind how a digital token can be perceived as "value" and thus become a useful replacement for our current economic system.
We've all been in these situations before... till we're blue in the face... trying to explain the process and/or painting a picture of analogy's, just so the laymen out there can easily grasp crypto concepts and how it all ties together.
But during our discussion, a thought entered my head that relates to the challenges Dan Robbles (
@ingenesist ) is trying to overcome with Curisome'.
More specifically, how he put's it... "how do we get crypto to 'touch' the ground and meet real world, tangible assets?" like buildings, bridges, roads or just Real Estate in general.
IMO there's some obvious answers to this question that could be, to some extent, quickly implemented.
One possibility is using the current Deeds to Real Estate public records and attaching/assigning those deeds to a specific digital token and therefor be transferred or sold easily to another entity/owner with the added benefit of using a global public blockchain.
One hurdle (among with many others) is locating and/or informing the correct owner of that Deed and handing over the corresponding digital token assigned to that Deed.
The other immediate problem (and I'm using this as very crude example) is that the world as a whole does not use a paper Deeding system.
For example, a tribe that's habitat-ed a certain area of land for 100's of years. They don't use, or have a public/government recording system to process a paper deeded system allowing them to claim stake of their ownership/use of that area. To some extent they have "human" squatter rights but still, there's no proof of "ownership" for those inhabitants.
If this Deed to Crypto conversion could work and was implemented, another issue arises would be the lack and/or difficulty to parcel out that said Real Estate.
For example, If you own 20 acres of land and you own a crypto token for that specific 20 acres and would like to subdivide it into twenty 1 acre lots allowing you to sell off those new parcels... how would that work?
That one token would then have to be divided up into 20 separate units, which creates a whole slew of other steps and consideration in verifying the accuracy of that token along with matching subdivided land. Creating a bottleneck for the usefulness to easily transfer over to the new property holder.
With this previous thought/challenge of subdividing property running through my head, it dawned on me...
What if a crypto token could be assigned not to paper deeds but to the GPS system???
Most people are familiar with GPS now-a-days but I'm not sure how in depth their knowledge actually reaches into the inner working/layout. GPS, as some know, is basically a numbered grid system with varying degrees of precision. GPS, just like Crypto currency can be broken down to "X" amount of decimal places. Majority of Land Surveying equipment used today can obtain a precision of 6 decimal places all the way down to the 8th decimal place. If you're wanting a quick read on GPS accuracy, here's a great thread with some charts and explanations...
http://gis.stackexchange.com/questions/8650/how-to-measure-the-accuracy-of-latitude-and-longitude/8674#8674So imagine this... what if a cryto token was created and assigned/embedded to each specific GPS coordinate around the world with a consensus based on GPS accuracy of 6 decimal places (.11m or 4.33")?
First thing that comes to mind is how many damn tokens would have to get created, representing every individual GPS coordinate point based on a global grid with the corresponding scale of 4 inch by 4 inch? I haven't done the math to find out, but it would be a hell of a lot!!
Adding more to the complexity; what if the grid not only went 2D around the surface of the earth but, also implementing it into 3D space? i.e. from 1 mile beneath the earth surface to 1 mile into the air? That is a shit ton of reference points!!
Either way, I think this could be a VERY intriguing way to put a Crytpo token to use. If a system like this was place and implemented, basically anything built upon or used within our physical space can be accounted for.
Buildings, roads, houses, land, waterways etc, you name it... could now have an easier way to transfer ownership within that space, based on the GPS coordinate system and represented token on the block chain.
There is obviously WAY more details involved that can be discussed, but I more or less just wanted to share this idea with you guys... even if it seems "way out there"!
I haven't come across anyone talking about this type of approach before... so this idea may be old news?
IMO, very powerful none the less.
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