[Cryptography] Meet the New Owners (The Dangerous Blockchain)

[OCTADE]

On Fri, 2 Oct 2026 12:52:13 -0700
Jon Callas <jon at callas.org> wrote:

> [Moderator hat on here -- idcc]
> 
> > On Oct 2, 2026, at 05:32, OCTADE via cryptography
> > <cryptography at metzdowd.com> wrote:
> > 
> > 
> > ** Meet the New Owners (The Dangerous Blockchain) **
> > 
> > by Plain Meaning
> > 
> > [video] https://youtu.be/AAEv0cpZG9k
> > 
> > "Who really owns your property?"
> > 
> > "And what happens when a private company, a blockchain, and
> > foreign-connected investors get between you and your deed?"
> > 
> > "In this episode of Plain Meaning, I trace the campaign to replace
> > America's distributed, physical property record system with
> > blockchain technology. And I expose who stands to benefit."  
> 
> I approved this one, despite it being definitely on the line of
> on-topic. One of the rules here is that we're the cryptography list,
> as opposed to cryptocurrency, etc. Cryptography is a technology that
> is about power, morality, and other things (c.f Rogaway's "The Moral
> Character of Cryptographic Work" and I'd rather err on being slightly
> too inclusive. Nonetheless, this could easily go into areas worth
> discussing, just not here.
> 
> 	Jon

I'm not trying to start a debate about the merits or demerits of
blockchain or cryptocurrencies. I'm looking at the impact a title
blockcvhain technology would have the moment the scheme is broken,
either technically or socially. I would like to mull over more about
the ethics of any cryptologist assisting in building such a system.

I found the video relevant and interesting because the author hones in
on the institutional and political capture of blockchain as a means
to capture and centralize control of all real estate records ... hence,
all important legal communication and documentation over any property of
significant value. And they seek to weaponize cryptography to achieve
this end. They are also weaponizing public perceptions surrounding
cryptography and blockchain.

I don't think the author is overstating it by calling it dangerous.
Also holding the motives suspect is perfectly reasonable when a
corporate party proposes to control the titles to everything everyone
owns.

Modern cryptography solves some problems: confidentiality,
verification, privacy, integrity, etc.

This proposed use of blockchain for public records turns cryptography on
its head to eliminate confidentiality, imperil verification, and denude
privacy, and invest all integrity in one point of failure. If land and
property titles were centralized in a blockchain, a single 51% attack
would cloud every marketable title in existence. It would be the most
calamitous economic event of the digital age.

With total USA real estate valued at roughtly $50 trillion last
quarter, all that value is put into a cloud (pun) by the first
successful attack on the proposed title blockchain system. Someone
wants control over $50 trillion worth of assets. So, cui bono?

There is a tendency among some to propose solutions without a problem,
that will cause endless problems with no solutions.

Cui bono, indeed.

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