The key feature has always been that the data cannot be retroactively changed, eg log entries removed, inserted (between existing records) or modified. That's what enables cryptocurrencies: nobody can go back and alter account balances without leaving a trace, edits have to go through new transactions or protocol change.
In case of a video, blockchain could be used to tamper-proof security footage. You can always manipulate the incoming data (cover the cameras etc), but once data has been recorded (whatever it may be), there's no going back and overwriting it.
I'm surprised how oblivious the HN crowd is to how huge this is for the enterprise and government sector where data like land registry or citizenship records (see Obama's birth certificate, GWB's military record) have to be kept provably untampered for up to a century.