Oddly, one of the greatest powers of the blockchain technology, for me, is its transparency. Of course in our capitalist system it is easy to understand how there would be many not wanting that transparency. Yet my hope is that system will eventually fade away and a more open and egalitarian world will follow; yet some might see that as the thoughts of an idealists.
The transparency of the blockchain opens the door for its use in governance, for example, so as to be able to fight corruption in the halls of power. It could even lead to direct democracy where elected leaders and their secret dealings are no longer required in governance.
The privacy being offered is still visible for any regulation. I understand if for example medical records or pay slips needing to be kept confidential or crypto trades so people do not front run you. Privacy has to happen with block chains or no bank or business will use them. The amounts will be hidden and only visible to the parties involved protecting their identity through encryption.
Yes, you make perfect sense in wealth transfers in the capitalist system. Yet blockchains have the potential of many more uses than that. In the cases mentioned in my previous comment, transparency could be seen as a feature rather than distraction; though your points are well taken.
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