India's Demat 2.0, launched by RBI and Sebi, is tokenizing assets such as bonds, gold, and property on a supervised blockchain. This aims to create faster, cheaper, and safer markets through atomic transfers and reduced settlement risk, building on India's blockchain framework. While promising, success requires addressing significant challenges. Particularly with complex assets like land, robust legal frameworks, secure links to underlying assets, and coordinated stakeholders are crucial. The emphasis is on reliable ownership and enabling assets to move with the ease of money, beyond just ledger placement.