Hi, I’ve written a thesis on this topic. I agree with your concern. The one thing many people in the tokenization business don’t understand is this: in bitcoin’s case the valuable asset IS the information on the blockchain itself. That’s why enforcement can happen on-chain. In the case of blockchain based title registers enforcement can’t happen online because it actually is important who in the end will physically possess the property. This can only be enforced by the state (or regime) with guns and jails.