Oh… Well that’s pretty bad. It’s like Wild West at that point. Anyone can make these fraudulent tokens. Someone would need to prove that there exists a connection between the token and the real world item it represents.

I guess therein lies the problem. These tokens shouldn’t represent physical objects. If you really want them to, you need a certification authority. If you can find one, it means that you actually can trust someone, so you don’t even need to use a blockchain for tracking these things. Why not just use a trusted authority to handle a traditional database.

So what does that leave us with? What can you do with a blockchain that doesn’t require the tokens to be connected to real world objects?