I'm not "being dense". Every time I ask for examples of a blockchain project actually delivering value in a way that a simple database or checksummed transaction log wouldn't, I get pointed at proposed projects by people who have seen exciting presentations. Every time.

You were responding in a contradictory fashion to somebody saying, "Innumerable efforts have been attempted, yielding almost no fruit." The only thing that could usefully contradict that is proof of something yielding fruit. A press release isn't. Neither is the fact that they've managed to get the prototype running. There are a lot of blockchain prototypes running. Many of them are proposed and built by consulting companies that get paid by the hour, whether or not any actual business value is delivered. IBM has such an enormous conflict of interest here that they're just not a reliable source.

I'm sure you're friend's sincere, but there are plenty of sincere blockchain proponents. There were plenty of smart, sincere people who believed in 3D TV, Google Glass, and the Zune as well.