> As if the problem that needing solving was Bank of America doesn't trust Capital One to update a number in their database.

As I understood it, the attraction of blockchain was more that the money could get moved around without Bank of America and Capital One knowing about it, and therefore without those financial institutions reporting the transactions to the government as they are required to by law. Which of course screams "money laundering" and "tax evasion" to the government. Yes, there are possible legitimate reasons for wanting to be able to move cash around anonymously and invisibly, but they're basically rounding error compared to the ones mentioned above.

In other words, blockchain on this view was a classic example of the old saying that you can't apply a technical solution to a social (or in this case political) problem.