How Lack of Title is Holding Back Crypto (a.k.a. the Car Key Problem) 🚘
If you give your car keys to a friend who needs to run an errand, does that friend now own your car? 🔑
Clearly the answer is no! The car's title is in your name, so you own the vehicle even if your friend has possession of the keys.
And yet, in the emerging field of cryptocurrency, there's no such thing as title. Currently, possession of keys is usually treated as ownership.
This lack of title is major problem that creates risk and limits the potential of crypto.
🔻In the video below, TransitNet architect Will Coleman and I discuss why lack of title is an issue and how TransitNet can solve it. 🔻
In the video, Will and I dig into why the lack of title is an impediment to crypto. We talk about how TransitNet's beta product works to establish proof of concept, and also the big picture vision of where the company will go to solve the issue at hand.
If you're curious to learn more after watching this video, you can visit TransitNet's WeFunder profile to read about the company and our financing round.
(P.S. The round is filling up pretty quickly, but there's still some room left if you're interested in being part of what we're doing at TransitNet!)