The question is who is doing the enforcement. If it's the police then you are right but with bitcoin the enforcement can also be done by a peer to peer network of social ties. In other words, it will be evident to all that you took an illegal position of a property and as a result you will be rejected from society without the need of a police force
Maybe it's a better idea than a first thought. But if almost none of my friends agree with me in privatizing education, this kind of private law is way too much.
Interesting idea but, as any attempt to have private law, too futuristic in my opinion.