Ah right, ha, that Matt Levine article is where I first saw this idea. My point actually wasn't that this is a good idea, but that it's a superior idea to doin

Ah right, ha, that Matt Levine article is where I first saw this idea. My point actually wasn't that this is a good idea, but that it's a superior idea to doing the same thing with a blockchain based ledger. All the problems you outline are true for the blockchain solution as well.