"Completely, utterly, absolutely, and forever impossible."

You are completely right about this except for the 'forever impossible' part. Logistically speaking, there is no way to install chips on pre-made guns and theres enough of guns and parts to last for decades if not centuries depending on use. However, any major national change in any facet of our lives takes generations to see results so this concept can only exist in the far future and completely depends on the adoption of blockchain technology and the corresponding social and financial revolution that comes with that adoption.

I'm honestly not sure whether this idea would damn us or save us if implented. Blockchain can either be the basis of our utopia or the instrument of our dystopia. It honestly depends on how much we, as the human race, prioritize decentralization.

What I am sure of, though, is by the time its all said and done, guns will be electric and use an electromagnetic rail system to fire projectiles faster(and quiter) than gunpowder ever could. Alot of the original appeal will be gone as bullets will fall to needles spiked with nerve agents that can do a variety of things to a human from temporary paralysis to rapid death with only one needle needing to make contact.
As they become more effecient, they will be less abrassive and ultimately loose their recreational appeal. There won't even be recoil anymore. Its speculation, sure...but I'm positive this will be the future of firearms.