[it_does_follow]

You're thinking of regulations. In basically every manifestation the primary function of the state is the enforcement of basic property law. If you don't have that you have warlords/oligarchs fighting with each other constantly over who owns what (since they each individually must act as enforcer).

As far as enforcement of property right, the "distributed" model is well understood and typically leads to a much worse situations than the centralized version.