The industry has spent years perfecting the on-chain story while leaving the plumbing that has to carry it largely untouched. From where I sit, the data and standards layer, not the blockchain, is what will determine whether any of this becomes a real workflow instead of a slide in a pitch deck. Where the Fix Actually HappensNeither of these is a blockchain problem, and neither gets solved by better distributed ledger technology. That is standards work, and it moves at the speed of industry consensus, not a product launch. Get the data layer right, and the programmable, self-executing version of tokenization everyone is pitching becomes something operations teams can actually run.