What's the deal with blanco and blancoing webbing? Eh?

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The bloke puts the kids to bed, and sits out on his front balcony for a nice tipple and a spot of catharsis - blancoing some webbing with Khaki Green 3 (KG3) blanco. But what on earth is the deal with this wierd paint stuff that the British Army put on webbing during WW1, WW2 and until the adoption of 1958 pattern? What's the deal with ordering 1908 and 1937 pattern dyed a rather sandy beige, to then paint it green? Eh? What's the ever-loving point of that?