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Cybersecurity has emerged as a paramount concern in today’s digital age, especially when considering the vast range of digital assets now in circulation, among which non-fungible tokens (NFTs) hold significant prominence. This chapter delves deeply into the intricate landscape of cybersecurity as it pertains to NFTs. By meticulously analyzing the multifaceted technical challenges and potential vulnerabilities inherent to NFTs from a cybersecurity perspective, this chapter seeks to provide an overview of the landscape as of this writing. Furthermore, this chapter explores how existing laws, policies, and societal norms have addressed these issues thus far, and speculates on how they might evolve in the future to more effectively bridge the governance gaps and safeguard these unique digital assets.
For the past decade, blockchain, along with the recent ascent of non-fungible tokens (NFTs), have been hailed as revolutionary tools with the power to reshape the global economy, particularly in the context of property rights. In this chapter, drawn in part from the authors’ earlier work, the use of blockchains and NFTs in real property transactions is questioned by interrogating how the existing technologies work against the backdrop of the realities of real property transfers. Moving beyond the hype, the authors explain that a blockchain system would provide few if any benefits to the system of real estate transactions. Yet they think there is indeed a potential use case for blockchains and crypto technology when it comes to property rights. But, it is not in the world of real property – which our existing system has largely shown itself to be sufficient – but rather for intangible property. American law developed to deal with tangible assets, whether personal or real, owing to their historical prominence as primary wealth. But tracking and transferring rights in intangible property has always been underdeveloped. It is here, so we argue, that blockchain technology and NFTs might have the highest utility.
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