Forget about NFT fART for now and let’s suppose that I mint an NFT for the car I own in order for it to be used on a platform that tracks current and previous owner(s), servicing history etc.
Also, suppose that I am the creator of said platform. How would anyone prove that they indeed have 100% ownership of the underlying asset, which is the car in this context? Could I go, together with the owner to the department of transportation, which is the “registrar” of this asset, and lawfully inquire for a proof of ownership? Of course this is not a solution able to scale, but it’s a start.
Any other ideas or things I am missing?
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