All blockchain gives you is the payment and settlement part of the process (a private key can reassign "ownership" of the pointer to your document), and it does so at the expense of any ability to reverse a fraudulent or accidental trade. Got a virus and lost your apes? Wow sucks to be you, if you're no longer the owner please take it out of your profile.
this is such a widespread misrepresentation/falsehood in crypto, that it makes all this other stuff go away, like we suddenly won't have any trading firms or crypto exchanges, therefore no need for buildings or employees or heating or lighting. I've literally had people on HN tell me that crypto was gonna mean no more "wasted power and heat" from financial services companies, like commodities or equity traders are just gonna disappear because we came up with a new mechanism for HFT.
Like I said they give you the trading platform too (the thing web app that issues the onchain transactions, and shows what's for sale) because you can use a third party one.
> and it does so at the expense of any ability to reverse a fraudulent or accidental trade.
That is mostly true now, but it doesn't have to be that way. We've come a long way with things like time locked transactions and social recovery features, but I agree it still needs to improve.
I don't think I'm under any misconceptions here, my work is related to crypto, but feel free to correct me if I'm wrong.