> blockchains (as in bitcoin) are about being completely decentralized and trustless. It's an "and" not an "or", if you remove one of these imperatives they're completely pointless.
You're completely right, but I want to point out something subtle that I almost missed. For something to be considered a blockchain, it does not have to be distributed (as you noted). There can be a centralized entity (Wal-Mart) controlling the blockchain, but like you said, a controlling entity takes away trust. Without trust, Wal-Mart can still verify any tampering, but the public would still have to trust that Wal-Mart is coming forward with any discrepancies.