Although printed on paper money, I think it's more worth mentioning as a member card that can only be used in one place
The initial expectation of bitcoin creation is that it can be used as a global currency, and bitcoin should not be tied to institutions why you make it more complicated by organizing it by signing up for membership before you can use bitcoin directly.
Bitcoin banknotes for me personally is something unbelievable. It is no need to create it. The walls are still very corrupted for Fiat money.
Just talking only about that part i cant even imagine that bitcoin would come into that point. Even though they would suggest or recognized bitcoin wont really work on this way. Its really contrary on its real purpose and feature which we do know it is on decentralization and having a bank notes will definitely removed that revolutionary feature and i guess popularity and support would be gone since it would just still act as a
local fiat money instead.