Blockchain has been around as a technology for nearly two decades. If financial institutions thought it could help them you can bet they would be all-in on it by now. As it is, blockchain has no significant advantages over traditional financial ledger systems, so what incentive is there for them to use it.

It's not something new or cutting edge any more, just waiting for a bright spark to discover the technology and put it to use.

Blockchain is only potentially useful if there’s no single entity that can be trusted. If banks can’t even trust themselves to manage their own internal ledgers, they have much bigger problems to deal with.

i for one would have liked a media licensing system that operates agnostic of any centralized authority

for instance, irrefutable and independently verifiable proof that you own a valid software, music, or visual art license and are therefore immune to prosecution for piracy.

A registry of licenses like this could shield creators from copyright claims on social media applications such as youtube. Could also automate revenue sharing and royalties for artists whose works are used in derivative media so the people who actually perform the work get paid. Would be nice to cut the publisher middleman out. And there is absolutely no reason there has to be anything like a "proof of work" system burning down entire fucking rainforests' worth of energy to verify every single gods damned transaction because this sort of system isn't for trading shit, it's strictly for proving a valid chain of custody between producers and consumers and you don't need megawatt-hours to just fucking LOOK SOMETHING UP.

imagine if, for instance, fucking warner brothers couldn't "takes backsies" content that they SOLD to end users through a distribution network; the license is yours, and anyone can look up the fact that the license was sold to the user id you happen to control.

imagine if, for instance, you buy a video game through a digital distributor like steam but then the store goes out of business and no longer exists to serve you a copy or recognize the sale, but on this massively distributed and decentralized database you can prove that you did indeed compensate the developers of that software and thereby legally acquire entitlement to access it in accordance with the end user license agreement.

imagine if ownership of stuff you bought fair and square can never be taken away from you

THAT'S what we could have had

instead of this fucking bullshit.

How is the blockchain different from a read only ( write only once to be specific) DB that follows ACID?

Yeah let’s use the computing power of an entire country to pay for a small coffee.