| Not my field however I feel you have a mis-understanding. You are talking about a shared ledger system, then saying that bitcoin has no part of it. Bitcoin is the token of PoW. So all the miners confirm transactions on the blockchain and in turn are rewarded with bitcoins. This keeps the miners doing their job, and the main reason the bitcoin ledge is immutable. If you remove the bitcoin from the ecosystem then it will be down to the banks to secure their own blockchain with their own mining pools at which point the banks control all the mining, you lose the trusted status of the ledger. As with the main block chain if a miner gets 51% of the mining then they can do a number of attacks to change the shared ledger. What I am getting at, I do not see how blockchain technology works without a token to validate it (be it bitcoin/bankcoin/englandcoin/fuckcoin. However if that token is only controlled by the banks are we not back right where we started? with banks having a private ledger between themselves that they can change. Blockchain/bitcoin work because the people securing the network have an incentive to keep the system going. The only people interested in securing the banks blockchain will be the banks, unless they offer their customers mining equipment, but the day a bank shares its ability to mint value is the day I prove that well something unthinkable. The banks blockchain will just become another private database that is not secured in the real world in anyway and in turn losses the status of an immutable ledge. We will see |
The problem is that you want a revolution and this is evolution.
> However if that token is only controlled by the banks are we not back right where we started?
They never wanted to change it.
For them it might just be about improving the verifiabilty compared to the current system. They need not have broader aims then that and a blockchain between banks can help with that.
See: https://blog.ethereum.org/2015/08/07/on-public-and-private-b...