> The block chain is, and always was, an extremely inconvenient database.

It's the cost of it being out of control of any single party. Efficiency and convenience are worth nothing if you have a system someone can just wipe out or manipulate.

Have you experienced hyperinflation in your lifetime? Have the generational assets of your family been seized by totalitarian government? I think you'd understand better if you lived through events where your wealth very painfully was just an "entry" in the efficient system someone else controls (badly).