How smart property works on basic bitcoin blockchain? I am not sure that how to make token, that is tied with a particular object, on the bitcoin blockchain. I've already know I can use such kind of token if I use colored coin or master coin. I've read the following link, but I couldn't understand how it works. https://en.bitcoin.it/wiki/Smart_Property

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The token in the blockchain represents a physical item, the same way that a paper document may represent a contract or ownership of a house.

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