Dunno much about advancing the society, but in the current state of things in the USofA finworld, trust really is a kind of a pain in the ass. Just to name a few things, KYC is intrusive and expensive (even Coinbase made me upload my documents). ACH, which is how a ton of money gets moved, requires 3-10 calendar days to settle, because lack of trust (same day ACH is either expensive or only available for credits). Chargebacks on credit cards (friendly fraud or legit complaints) are a huge problem for merchants who get kicked off of their billing system once it loses "trust" in them.

No idea if the "blockchain" solves all this though.