I'm not talking about correcting errors in settlement I'm talking about removing the need for settlement.

You seem to be a pretty big fan of bitcoin. I've noticed a huge blindspot in bitcoin proponents when it comes to private chains almost like they are threatened by them.

Bitcoin was never going to win the markets/use cases private chains make sense in. Bitcoin went the way of ultra generalisation which has resulted in it being pretty much worse than everything else for everything else. But it can do lots of things. Just not well.