Ah, yes, if the companies needs can be met only with smart property, then sure. That sounds unlikely though. Most companies biggest cost is wages, not assets.

A bond market with completely anonymous participants has to rely solely on reputations (as it doesn't really make sense to buy a passport/fidelity bond/etc to borrow money). I'm not sure that's tractable in the real world for the same sorts of reasons that the web of trust never really took off: barrier to entry is too high.

People value their physical identity as an asset because everyone is given one for free at birth by their parents and the state, and because it can be used to easily put your own personal freedom and all assets on the line as collateral in a deal.