"There's absolutely no reason that you couldn't set up a traditional database to do that."

Everything is equivalent to a Turing machine.

The question is costs.

"clearly how technology is going to streamline the process of conveyancing. This is what's actually needed, not trading property like NFTs"

These statements say the same thing: a perfectly efficient conveyancing process is seamless, so the property can change hands like an NFT. An atomic swap with cash in one direction and the title etc. in the other.

At which point, we just use an NFT.

Have a nice day.