The only people that think code is law are hardcore libertarians / anarchists, which was the majority of crypto in 2011 but obviously isn't now.
The most likely way houses and other real world assets will exist is via a 2/3 multisig on the tokens. The 3 participants being: Government, Management Company, User.
If you lose your keys or get hacked you can go to the government + company responsible for the assets and get them back. If the company screws up the users can work with the government to get their assets back.
The advantage of this over a traditional government database is transfers can be made much more efficient because the government doesn't have to be involved in every transfer, they only step in if things go wrong.
The most likely way houses and other real world assets will exist is via a 2/3 multisig on the tokens. The 3 participants being: Government, Management Company, User.
If you lose your keys or get hacked you can go to the government + company responsible for the assets and get them back. If the company screws up the users can work with the government to get their assets back.
The advantage of this over a traditional government database is transfers can be made much more efficient because the government doesn't have to be involved in every transfer, they only step in if things go wrong.