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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.

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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.