Can tokenized silver ever avoid the paper silver problem?

Tokenized silver sounds useful on paper. You could buy smaller amounts, transfer it quickly, and avoid dealing with coins or bars yourself.

But if holders still depend on a company to store the metal, publish audits, and honor redemption, how is that different from the paper silver system people already distrust?

Could a silver token ever solve that problem, or does it just move the same trust issue onto a blockchain?