So here's the thing you guys.

If I have a real estate, a car, a intellectual property, a stock or bond, whatever.. Who's going to safeguard my property rights? Probably a court of law, right?

I don't need those assets, or the right to those assets, held on a decentralized blockchain, if a centralized entity is responsible for my property rights.

If I need to sign a contract, I can do it privately using nostr protocol and have it cryptographically verified. I don't need to have it broadcasted publically as an NFT and shit... It can be broadcasted later, if there is a dispute, and people will be able to audit that both parties signed the contract.

So I don't see how bitcoin level 2/3/4 can help.

Money is a use case for a decentralized ledger because it is THE asset.

If a private company issued shares as bitcoin ordinals, then sure, the shareholding would be as secure as regular bitcoin that you hold, but there's no guarantee that the company will honor your shareholding with dividends in the future. There still is counterpart risk. The use of the blockchain is futile.

It's always about the weakest link.