True, but not necessarily that important. In world of Bitcoin this is important due to anonymity and criminal activity.
In a regulated industry there are other ways to prevent cheating. Making cheating obvious and undeniable is probably enough to prevent it from happening (due to legal risk).
In the context of banks, where there are a limited set of semi-trusted entities and multiple trusted third-parties, I seems that most most solutions to prevent cheating offers is either really similar to a trusted third party solution, or offers no major benefits, but comes with many drawbacks.
In cash transactions, it's hard to beat the speed of a trusted third party with a deposited "float" for ensuring that you can pay at the end of the day - even a bad day where a part defaults.
In securities, there is perhaps some room for a blockchain solution, as the infrastructure is much more complex and underdeveloped - due to the historically gigantic margins.
In a regulated industry there are other ways to prevent cheating. Making cheating obvious and undeniable is probably enough to prevent it from happening (due to legal risk).