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RE: How stupid do financial institutions believe people are?
Every major bank has either a secret or a public project where they play to implement blockchain technology. So they will have it ready in 1-2 years from now. BUT the technology will only benefit them.
honestly its not a bad idea to have a verity of types of coins to work with. For example some coins can be made to allow the creator to collect data on transactions with knowledge of the identity of the user. As long as other options still exist within that same market then its not a super bad thing.
The problem is, will anyone trust such a coin to actually hold value in a free market?They would be forced to provide unique features like theft insurance and things like that. Its not super awful if they can keep things tight.
Too late. Bitcoin/alt coin system is ready now.