Who is going to print and distribute these notes? Whosever is vested with that much power will be able to keep track of every note issued and that defeats the purpose of anonymity and decentralization.

Also if there are physical notes for bitcoins, what would they really mean? will it mean that just as our bank accounts where any money you withdraw from your account and turn to fiat is no longer available in your bank account. That is any of your bitcoins that you decide to turn to bitcoin note will no longer be Available on our wallets?  Or will the notes just be a representation? It makes no sense to me. If the notes are just representation of what you have in your wallet, of what purpose will it be? why will someone want to get these notes?