For me both will be possible.If government and banks accept bitcoin,the people will be regulated by it and it can cause a centralized currency,because a third party is present on it.The more the regulation the more it can be centralized.
That is quite easy to say but it look like a dream. The European countries still get some perks over being more oriented towards development and coping up quickly with the market trends. But situation is hundred and eighty degrees to what we are facing here in third world counters. We are hopeful for the good days when we would be easily accessible to bitcoins in official terms.