Blockchain doesn't have value by itself, the purpose for which it is used for gives it the value. You can use blockchain in practically anything but it has become a snakeoil as we know it. Bitcoin isn't popular because it uses blockchain, it is popular because it is an alternative currency with properties that can't be provided by the currencies that we have. It makes no sense for a centralized currency to be more popular than Bitcoin, if so then you're targeting different groups of people.

This is not how merit is supposed to be used for.