Valuable property without value for others — future of wealth management
When you own valuable property in physical world, you can protect it only by offering resources to keep it in your possession. This is very ineffective when you compare it with virtual possessions. Keep in mind, that only effective systems have advantage over ineffective ones. You need safes, complicated offshore schemes, armed men to keep your property safe in physical world and it costs a lot of resources. So first option is to use more resources to increase protection of your property.
Second option is undervaluing your property for every other. Create valuable property invaluable for others is difficult in physical world. But it is in fact possible. You can create such protection, which can exclude others to use your property. F.e. if someone stole your iPhone, make it unusable for a thief is imaginable. Imagine, that only you have “keys” to use all your property and for every other person has this protected undervalued property no value at all. There is no meaning to tax property, steal or destroy it, when it has no value for others.
Perfect tool for this kind of protection is Blockchain. Private key is one and only tool to unlock your wealth and every other person without private key is absolutely excluded to spend, tax or steal it.
Time when property was hard to protect is gone. Welcome in age of strong property rights based on cryptography.