In the end I think your last paragraph explains everything. The proposal presumes that a parallel legal system governing property rights would even be allowed in the first place. Considering that in every nation I can think of property rights are guaranteed by a constitution, or a crown or something else equally difficult to change, this seems to be about as likely as any other activist proposal getting a supermajority to change the constitution. In practice, if crypto property rights were ever to come about, it would have to be in either a city state like Singapore or Monaco, or in a watered down form where the ‘on chain system’ is a bit of sprinkling to make the city seem high tech and futuristic. Your right to not be too hopeful about on chain real estate. It seems to be better to start with some smaller, manageable, nexus of improvements.
Good points. Also it may be possible to build such a city on a remote island or in the middle of a desert. Jurisdictions may even compete for the privilege if $X billions of annual tax dollars could be guaranteed. If all the crypto billionaires pooled together to build a small city that may be enough capital.
In the end I think your last paragraph explains everything. The proposal presumes that a parallel legal system governing property rights would even be allowed in the first place. Considering that in every nation I can think of property rights are guaranteed by a constitution, or a crown or something else equally difficult to change, this seems to be about as likely as any other activist proposal getting a supermajority to change the constitution. In practice, if crypto property rights were ever to come about, it would have to be in either a city state like Singapore or Monaco, or in a watered down form where the ‘on chain system’ is a bit of sprinkling to make the city seem high tech and futuristic. Your right to not be too hopeful about on chain real estate. It seems to be better to start with some smaller, manageable, nexus of improvements.
Good points. Also it may be possible to build such a city on a remote island or in the middle of a desert. Jurisdictions may even compete for the privilege if $X billions of annual tax dollars could be guaranteed. If all the crypto billionaires pooled together to build a small city that may be enough capital.