Author Topic: Proposal to add a permission/flag to lock an asset after creation  (Read 479 times)

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Offline santaclause102

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By locking up an asset, making it impossible to increase the quantity of the asset, it would be possible for an artist or any producer of a physical or digital good to prevent counter-fitting of their work. For digital assets (e.g. digital art) this in addition would allow to make it rare.

How would it work?
For every item (e.g. a diamond) the real world producer creates he/she also creates a UIA. The producer would sell his diamond along with the IUA. The first buyer (buyer-1) now has the diamond and the IUA. A secondary buyer could request the transfer of the IUA if he/she buys the diamond from buyer-1 in order to proof to anyone (police, further buyers, insurance companies) that the diamond has not been stolen. This could reduce the prospects of stealing in order to sell it again to zero given the good is valuable enough for the producer to issue an IUA and send it to the buyer. 
 
Now if the item is not a diamond but a piece of digital art (e.g. http://rarepepedirectory.com/) that piece of digital art can be copied like anything digital can be. The difference to how digital art works today is that the ownership wouldn't have to be enforced through the judicial system which doesn't work anyway for the most part so that ownership of digital art is not viable in practice. Instead, ownership of digital art would be determined by how costly it is to take it away from the owner which is the same principle that organizes our perception of what legitimate ownership of non digital art is.
I am curious to see how this could be expanded to digital goods in general like music, documents etc. But I don't see how it would apply to digital goods in general that derive their value from their utility and not from their rarity like digital art.

Counterparty on which the above rarepepe assets are issued allows to lock assets, http://counterparty.io/docs/protocol_specification/

Two companies also catering to this use case:
For diamonds: https://www.everledger.io/
For art: https://www.ascribe.io