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For fixed instillations, sure ... but it's a gas with a really low boiling point at 1atm. For something mobile that just won't work unless the expense of handling a cryogen is a non-issue (i.e.: a large rocket booster where you're already dealing with liquid oxygen) or your fuel tanks are...

1) Ethanol can replace hydrocarbons. It's not as energy dense (27MJ/kg v. 40MJ/kg) so range, speed, and payload will suffer. Aircraft designs will be much more specialized and mostly land based because ethanol is miscible with water and saltwater tends to get into everything when you're at sea...