A blockchain (assuming you can get buy-in/critical mass from the agencies) has the ability to align some financial incentives of all interested parties to open up access to real estate listings while still holding ownership and profiting from that access.

Instead of real estate companies protecting their listing data, they could offer access to their listing data in exchange for a fee or revenue share. Instead of out-of-date listings parading as up-to-date, there's a public temporal record of updates. Instead of buyers getting restricted or partial information, they can obtain access to the listing data via alternate sources.

Unfortunately, it's so difficult to get a critical mass of inventory to succeed; it requires either a massive upfront investment, or partnering with RE developers from the beginning.

What objective measures are you using? Over $3 Billion in value is transferred over the Bitcoin network every day. There has never been any downtime, nor has it ever been hacked, and fees are flat and transparent (just a few bucks to transfer unlimited value across the world).

Generally, being able to program the management of money (i.e. if personA meets a certain criteria, send $X to personA) in a transparent system can be incredibly powerful.

The crypto industry is not built around avoiding government rules, that's a myth propagated by its many detractors. It was born to address a failure of the banking system that hurt regular people the most.