Tokenisation
Tokenisation fails when the claim was never there.
If the legal owner, the register that a court will read, and the person who can reverse a mistake are missing, a token makes the problem look finished. It is not.
Stop when
- One company already holds the asset and the customer relationship. A database is enough.
- The token is being asked to create title the law does not recognise.
- Liquidity is assumed because the word token was used.
- Default, voting, and servicing are not written down.
- The document that matters would have to sit on a public chain.
When it can still be the right record
Several parties must share a list none of them should silently edit, and the legal claim already exists beside that list. Then the token is a representation. It is still not the asset.
