The industry may be ripe for change, but blockchain was not a useful agent for changing it. It was wholly inapt for replacing title work - we had a long discussion about it, the gist of which can be found in this thread:
And of course, blockchain can’t address the 6% commission, which is largely charged for activities (and access) unrelated to how title or payments are handled.
Of course I understand that. But the hype around blockchain went well beyond crypto currencies. After all, crypto currencies had been around for quite awhile - Bitcoin dates back to 2008. You might be too young to really remember this, but the “Peak Blockchain” era in 2016-2018 was when our tech leaders were confident that blockchain was actually going to have vast numbers of applications outside of crypto currency. That it would be.a revolutionary technology, replacing conventional ways of handling virtually all transactions, data storage processes, record-keeping, and indeed the very structure of corporations and companies themselves. Which is why virtually every major company in the economy started blockchain projects. It was going to change the world.
That ended up being a mirage, as virtually every effort to expand the use of blockchain beyond cryptocurrency collapsed. Even many of the crypto currency use cases came to naught, which is why a decade later virtually no one is using Tether to buy groceries - or anything IRL transactions at a shop or store - despite the proliferation of stable coins. Because blockchain platforms like ethereum can still take several minutes to clear a transaction at busy times, which is simply unacceptable compared to credit card services, and there’s no utility to “normies” that the system is trustless or distributed.