I think liquidity tends to trend with commodification, even more than a more efficient ledger. Real property is fairly hostile to commodification-- even if you

I think liquidity tends to trend with commodification, even more than a more efficient ledger. Real property is fairly hostile to commodification-- even if you have "100 square metres of grade-XYZ commercial space", the guy with a different hundred metres can say that his averages 4 minutes closer to where your workers live. It might be viable in some level of the market-- perhaps large commercial property owners disinterestedly trading bundles of bulk assets in between themselves-- but even there the time for the transaction to settle is secondary behind things like 'arranging funding', 'inspections', or 'finding a suitable property for needs.'