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  #1  
Old 05-09-2021, 11:57 AM
zoomfest zoomfest is offline
Paul Z
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Default Blockchain

For those familiar with blockchain, wouldn’t it make sense to eventually have the grading agencies use blockchain technology to eliminate fraud / demonstrate ownership of card collectibles? And for that matter, use AI for grading? Would likely increase consistency, security and, I would imagine, prices. Views?
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  #2  
Old 05-09-2021, 12:03 PM
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Your post reminds me of my dear late grandmothers revelation, about 20 yrs ago, that these computers are going to be a big thing someday (the internet was already in full force)!

I should add I don't know enough to talk to the block chain aspect but the AI has been coming into fruition for a few years and seems to be ready to go.

.
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  #3  
Old 05-09-2021, 12:10 PM
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Quote:
Originally Posted by zoomfest View Post
For those familiar with blockchain, wouldn’t it make sense to eventually have the grading agencies use blockchain technology to eliminate fraud / demonstrate ownership of card collectibles? And for that matter, use AI for grading? Would likely increase consistency, security and, I would imagine, prices. Views?
That’s the future I see. Right now blockchain isn’t understood enough to be widely accepted. Once it’s uses are easily understood, it will become the norm for contracts and certification of authenticity. And I was one that initially scoffed at it. It took me some time to read what it did and how it works to become a believer. People see Doge coin in the news, etc, and don’t get it. I really began to understand when I read about VeChain and VeThor. Then it clicked.
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  #4  
Old 05-09-2021, 12:55 PM
zoomfest zoomfest is offline
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Thanks EDJS. I mean, I see another application in NFTs - which strikes me as logical and crazy (prices) at the same time. But sing simple blockchain tech in card grading authenticity will - in my opinion - be offered within 2 years. I think everybody benefits except for the fraudsters (and, ok - those that wish to keep raw cards).
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  #5  
Old 05-09-2021, 01:29 PM
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Having card tracked on blockchain would also make sales easier to track by the IRS. So many people would not want their cards to be tracked that way, or submit to card consignment firms or grading companies that put them on the blockchain.
Not all of them are fraudsters, some just don't want others knowing their assets, making them a theft target.
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  #6  
Old 05-09-2021, 01:41 PM
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Why would a physical card be on blockchain? Blockchain is a receipt for something digital that shows you own it. You wouldn't need a digital receipt for a physical object.
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  #7  
Old 05-09-2021, 02:05 PM
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topps bunt??
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  #8  
Old 05-09-2021, 03:07 PM
Republicaninmass Republicaninmass is offline
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Quote:
Originally Posted by packs View Post
Why would a physical card be on blockchain? Blockchain is a receipt for something digital that shows you own it. You wouldn't need a digital receipt for a physical object.
Genamint would have a scan, and know exactly where the card had been. All you'd need to do is to run a scan through the program and each card has unique identifiers.

I think
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  #9  
Old 05-10-2021, 03:49 AM
Oscar_Stanage Oscar_Stanage is offline
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Quote:
Originally Posted by edjs View Post
That’s the future I see. Right now blockchain isn’t understood enough to be widely accepted. Once it’s uses are easily understood, it will become the norm for contracts and certification of authenticity. And I was one that initially scoffed at it. It took me some time to read what it did and how it works to become a believer. People see Doge coin in the news, etc, and don’t get it. I really began to understand when I read about VeChain and VeThor. Then it clicked.
Cryptocurrency is not understood enough to be widely accepted
Blockchain is 100% understood enough and is 100% accepted.

We commoners do no need to understand blockchain for its takeover. It’s already well underway. Crypto/Bitcoin does require the end user to understand. These are 2 different things
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  #10  
Old 05-10-2021, 07:50 AM
packs packs is offline
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I still don't understand why I need blockchain or cryptocurrency. If cryptocurrency is valuable in so far as it can be exchanged for dollars, then it's not a currency.
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  #11  
Old 05-10-2021, 08:33 AM
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I think it's worth breaking down what blockchain is and what it isn't.

Blockchain is not the same as NFTs or Bitcoin. It's just that NFTs and Bitcoin use blockchain technology to support their business model.

Blockchain an instant and immutable ledger technology. Put simply, Blockchain provides a secure record of ownership at a point in time.

Normally, when a buyer and seller agree a transaction, there is a period of time for the transaction to be settled. For example, when you buy on ebay...it takes a few days to make the payment and then a few more days before the seller gets you the card via USPS. That whole period between agreeing the transaction to making the payment and getting delivery is the settlement period. That settlement period is where we have risk around who owns the asset (and the risk) until the goods are fully delivered.

For a completely digital transaction (e.g. an NFT or buying bitcoin) Blockchain provides instantaneous settlement. Because all the components are digital - the transfer of bitcoin for an NFT can be recorded instantly as soon as both sides confirm the transaction. But for a physical asset (e.g. a baseball card or a house), the asset needs to be tokenized. This requires someone to assign a digital token to the physical asset. Then you can buy/sell the digital token and record that instantly by blockchain. Think of it as a digital version of the title to your house.

You need some trusted organization to assign a token to the physical asset and maintain the register. This is critical to stop someone creating multiple copies of the title to their house and selling their house to 5 people.

For baseball cards, blockchain doesn't solve many of the problem we face. For example, blockchain doesn't prevent someone selling a trimmed card nor does it stop someone failing to deliver the card. It can't, in and of itself, tell you that the asset hasn't been tampered with.

There are ways to get around many of these limitation but it seems to focus on holding the cards in a secure vault. Then you don't actually ship the card to the buyer....the buyer just gets ownership of the card in the secure vault.

Think of it like buying/selling on the stock market. Most people never receive a physical stock certificate anymore. Instead your name is held on the register electronically. This is a token that represents your ownership.
Blockchain helps to automate and speed up the management of that register. But if you want to actually have a paper stock certificate to put it in your filing cabinet....you don't get to use the tokenized system.

For those of us who want to actually take delivery of our cards and see them in our display cabinets....I'm afraid blockchain is going to be of limited value.

For anyone with an interest in blockchain for baseball cards, google "Blockchain on physical assets" and you'll find lots of blogs, articles and videos.
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  #12  
Old 05-11-2021, 10:02 AM
steve B steve B is offline
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Quote:
Originally Posted by UKCardGuy View Post
I think it's worth breaking down what blockchain is and what it isn't.

Blockchain is not the same as NFTs or Bitcoin. It's just that NFTs and Bitcoin use blockchain technology to support their business model.

Blockchain an instant and immutable ledger technology. Put simply, Blockchain provides a secure record of ownership at a point in time.

Normally, when a buyer and seller agree a transaction, there is a period of time for the transaction to be settled. For example, when you buy on ebay...it takes a few days to make the payment and then a few more days before the seller gets you the card via USPS. That whole period between agreeing the transaction to making the payment and getting delivery is the settlement period. That settlement period is where we have risk around who owns the asset (and the risk) until the goods are fully delivered.

For a completely digital transaction (e.g. an NFT or buying bitcoin) Blockchain provides instantaneous settlement. Because all the components are digital - the transfer of bitcoin for an NFT can be recorded instantly as soon as both sides confirm the transaction. But for a physical asset (e.g. a baseball card or a house), the asset needs to be tokenized. This requires someone to assign a digital token to the physical asset. Then you can buy/sell the digital token and record that instantly by blockchain. Think of it as a digital version of the title to your house.

You need some trusted organization to assign a token to the physical asset and maintain the register. This is critical to stop someone creating multiple copies of the title to their house and selling their house to 5 people.

For baseball cards, blockchain doesn't solve many of the problem we face. For example, blockchain doesn't prevent someone selling a trimmed card nor does it stop someone failing to deliver the card. It can't, in and of itself, tell you that the asset hasn't been tampered with.

There are ways to get around many of these limitation but it seems to focus on holding the cards in a secure vault. Then you don't actually ship the card to the buyer....the buyer just gets ownership of the card in the secure vault.

Think of it like buying/selling on the stock market. Most people never receive a physical stock certificate anymore. Instead your name is held on the register electronically. This is a token that represents your ownership.
Blockchain helps to automate and speed up the management of that register. But if you want to actually have a paper stock certificate to put it in your filing cabinet....you don't get to use the tokenized system.

For those of us who want to actually take delivery of our cards and see them in our display cabinets....I'm afraid blockchain is going to be of limited value.

For anyone with an interest in blockchain for baseball cards, google "Blockchain on physical assets" and you'll find lots of blogs, articles and videos.
For the vast majority of physical objects it seems utterly pointless.
I assign some digital token to a 1987 Donruss common in very average shape, register it with blockchain.... There's no way the assure that the token is attached to the exact card I'm selling, or one of the 50 pretty much identical others that are sitting in the same box.

I guess it could apply to uniquely identifiable items, but if the item is unique and I possess the physical object why do i need a digital token?
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