Security of a parallelizable block cipher mode
One of the basic security requirements of a block cipher mode of operation is that it is indistinguishable under chosen plaintext attack (IND-CPA).  Essentially, this means that, if an attacker chooses two messages $m_A$ and $m_B$ and the defender randomly returns either $\text{Encrypt}(K, m_A)$ or $\text{Encrypt}(K, m_B)$ (with $K$ kept secret from the attacker), the attacker should be unable to determine whether the defender chose $m_A$ or $m_B$.

This scheme is not secure under that definition.  Here's how an attacker can win (assume $n$ is the block size).


The attacker submits $m_A = 0^n \| 0^n$ (two zero blocks) and $m_B = 0^n \| 0^{n-1}\|1$ (a zero block, and a block that is all zeros except the last bit).
If the defender chooses $m_A$, it will return $E(K, 0^n \oplus BT_0) \| E(K, 0^n \oplus BT_1) = E(K, IV) \| E(K, IV \oplus (0^{n-1} \| 1))$.  In other words, the output blocks will be different.
If the defender chooses $m_B$, it will return $E(K, 0^n \oplus BT_0) \| E(K, (0^{n-1}\|1) \oplus BT_1)$, where $E$ is the block cipher.  This simplifies to $E(K, 0^n \oplus IV \oplus 0^n) \| E(K, (0^{n-1}\|1) \oplus IV \oplus (0^{n-1}\|1)) = E(K, IV) \| E(K, IV)$.  In other words, the output blocks will be the same.


The attacker can easily distinguish which plaintext the defender chose.  This violates IND-CPA, which often leads to vulnerabilities in real-world systems.

Counter mode seems to offer similar benefits without the security problems: parallelizable, random access, etc.