Duncan Large,
The Blockchain doesn't prove that you owned the coins. It proves that you had access to the wallet for however brief a period. As various Bitcoin related scams have shown.
I admit it gives more security on the transaction. But it still won't save you from mis-typing the amount you're paying. Bank errors do happen, but not all that often, and I don't buy blockchain stopping that. Or saving you from fraud. Yes it does require a trusted middle-man (such as the current payment processors in the banking system) - but it also requires a lot more security savvy and embuggerance for the users - so the risk you save by using blockchain over third party banks, you lose in having to secure your wallet / wallets.
I just don't see crypto-currency solving any current problems other than, "how do I transfer money untaxed and hidden from the police".
I agree that blockchain may well turn out useful for the Land Registry. Or software licences.
A use the Bank of England are looking at I think is loan collaterol. Say a bank wants to borrow £1m from the BofE or another bank on the inter-bank loan market - they currently would pledge another asset as collaterol against the loan (this would be a government or corporate bond or other security). This is what's always happened. They've looked at a system to run this. Then both banks (and regulators) would be able to know how much uncommitted capital the banks have at any one time.
Biting the hand that feeds IT
