Why? Is blood shortage a serious problem in medicine?
If this is solution can be scaled up, you would negate the need for the entire blood donation and plasma collection (which is paid for, at least in the US) system overnight. It's a Big Deal.
It might also change the face of surgery. You know the phrase “he’s bleeding out!” Well, who cares? We have blood pressure to spare, now. We could go through a couple gallons during the surgery and it’d be fine. Just hook them up to the tank. Take your time clamping/microsuturing/cauterizing instead of rushing and making mistakes.
And before you tell me the potential is there, please realize that we currently have only a very partial understanding of how that works, and it would certainly require at least two decades of science to get right.
(Or, helpfully, not; a “complete blood transplant”, done at the same time as a bone-marrow transplant, would serve as a much more immediate reinitialization of the body’s immune system in the face of autoimmune disease. Right now we try to do that with hemodialysis, but although we filter out the memory B- and T-cells themselves, we don’t manage to [immediately] filter out their chemosignals, so autoimmune response currently continues for a few days.)
https://www.smithsonianmag.com/science-nature/your-blood-typ...
At least in Australia you're encouraged to sign up for this as you donate, which makes it very easy for them to run the needed tests.
A cost competitive artificial blood that works as well as whole blood would have a big impact on the current system. An expensive replacement that wasn't as effective for treatment but had longer shelf life or something like that wouldn't have much impact.