There's a few issues with that approach:

• Blockchains can't forget, but they also need to add new blocks on every period, meaning that there's a lot of idle events that are added to the chain. You can increase the period, but then the chain has more latency. Either way, the disk space needed to store the full chain grows really fast, which becomes a problem when trying to bootstrap a new root node, or backup an existing one.
• Unless you're trading land titles internationally (read: there's no single trusted authority), blockchains could just be replaced with a regular distributed database and servers.
• Chains don't offer out of band recovery and error correction.