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You can't do any real money/real estate transactions without canonical order (chain of events). that's why git analogy is not applicable here. You'd need "main" branch to be canonically finalized for each and every participant.

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What? Sure you can. All you need is confidence in the current owner. You don't need the whole history. Can you imagine the poor store clerk trying to say "sorry sir I can't accept that $20 bill unless you can name every prior owner in order".

Not sure if you're being deliberately obtuse here but this isn't an issue with the cadence of real estate transactions. Real estate ledgers do not need to support HFT.

Never said you need to store the whole history at all times, i said it must be established in canonical way. Storing latest state is just fine. Event Sourcing works this way too, and allows caching recent state.

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