While Bitcoin promotes transparency, blockchain is about openness. To be considered for specific sectors, such as banking, the network must meet strict Know Your Customer rules.
I think where you said bitcoin is transparent is incorrect. Bitcoin transaction is not transparent, rather it is anonymous, although it is to an extent (they say it is pseudonymous). So, to an extent it can be anonymous, but on the blockchain your address shows and the details of the transactions will also be showing there; how much you’re transacting and where it is going to.
People won’t really know who did the transactions, but they will know that a transaction is being carried out by someone. Although, based on some events that has taken place, we can tell that bitcoin is traceable.