Permissioned ledgers are great payment systems. Bitcoin is digital money. Being that it is a money it is natural that banks or bank-like entities would want to steer clear of Bitcoin. There are very strict laws surrounding the control of who gets to print money, what is legal tender, currency control laws, and Bitcoin turns all of that on it’s head.
Because Bitcoin first and foremost as a permissionless, censorship free, money gives us for the first time in over 80 years, Monetary Sovereignty. What is monetary sovereignty? It’s your basic rights of personal property, applied to your money.
> Bitcoin is unique among its kin. It is the only cryptocurrency to have obtained the status of a money. It got to where it is because when it was still growing nobody, including the bankers and the government, took it seriously. Now that it has grown to a size where the cost of attacking the network is prohibitive even for nation states and proven that a digital money system free from government control can actually work. You can be sure that there is no way any government will ever allow another cryptocurrency to grow to this level of adoption and resistance to federal control again. You only get to fool them once. Bitcoin fooled them. It will not happen again. That is why I don’t believe any other alternative cryptocurrency will ever achieve Bitcoin’s level of widespread adoption.