It is perfectly possible to use simple lanyards to secure the reefed tack and clew. The drawback with this simple setup is that reefing underway is going to be pretty difficult/unsafe. It’s fine if you are able to come alongside or tie-up to a buoy while you reef, or if you intend to reef before you set off. If you were cruising somewhere like the Norfolk Broads or Frisian Lakes/Netherlands then such a setup would be workable.
hope that helps