No, but you don't have to. The point of blockchains is to allow people to opt out when they want to. If you don't want to or need to, you have that option.

The point of blockchain is to allow people to not use blockchain? I believe I have just now conceived of a more elegant way to achieve that.

I could have been clearer. The point is to be able to opt out of the traditional finance system when they want to.

It's a point of a blockchain; it's opt-in. Much like your credit card's contract.

No.

It’s just an IOU with an extra step.

Your mind will be blown when you learn what exercising stock options is.