So is this basically another crypto-currency w/ the same accounting capabilities as bitcoin, except centralized by the bank?
+1
If people are smart, they should not support such a thing.
Banks cause the 2007-2009 financial crisis.
Banks got big 800 billion plus bail out from U.S government courtesy of American Taxpayers money
Banks can't be trusted (moral hazard)
Damn, if I would let a bank manage a crypto currency.