We know Bitcoin was the first and is the most trusted Crypto currency out there at the moment and that it is backed by a huge network with tons of hashing power and good security, BUT would you
forget about all of that and go for a alternative technology with better features, once it is developed by all these banks? {Permissioned, private ledgers} They will obviously just copy the concept and
add some bells n whistles and then improve on scalability.
The governments will obviously make things easier for them and make it more difficult for Bitcoin, and then Bitcoin will start to lose ground and things will change in their favor. How do we stop that
what could the governments and banks create that have better features than what bitcoin already provided? no government would spend a penny to make anything that is trustless and decentralized.
Well, they will not develop something trustless, but they can make it decentralized. { Implementing nodes for example on all computers within all their bank branches } The only difference will be,
that it will be permissioned and private and they will control the development and what changes will be pushed on these clients/nodes. There are many Alt coins with some better features than
Bitcoin, but they do not have the main advantage... which in my opinion is the network affect and also the backing of a strong and secure network {hashing power provided by miners} that they do
not have to pay for. { In Bitcoin, miners give their resources and they get rewarded by the protocol } So for the users, this network is virtually free... but banks will have to pay for that resources.