Tom Ritchford
1 min readMar 27, 2022

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The problem of authenticating a digital object was completely solved in the late 1970s with strong encryption. By the early 90s, the technology was streamlined and free for anyone to use.

NFTs add less than nothing to the mix - they are a step backward in many ways.

If you used boring old 70s technology to produce digital signatures, you could package the signature with the object itself, preventing the issue of "I have the NFT but the original has vanished."

Boring old digital signatures can be computed instantaneously and cost nothing to make. You can distribute them to as many or as few people as need to see them, you don't have to make a zillion copies for the whole world.

The reason NFTs are trendy is because billions of dollars have been sloshed into the cryptocurrency world, and people are desperate to justify this technology by claiming it has other uses.

More here:

https://tomswirly.medium.com/stop-right-there-almost-every-article-about-this-topic-makes-this-claim-and-its-totally-false-4f60fc6ad75

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