Banks until now have said we love the blockchain, but hate Bitcoin.
Jamie seems to be running down the blockchain as well. He says the blockchain wouldn't offer improvement in areas like trading of stocks. This is plain silly. Why would you be satisfied with a 2 day settlement period, armies of men keeping track of transactions, possibilities of errors, etc, while the blockchain can do a better job in 10 minutes?
Banks have been saying blockchain because the word bitcoin scares the hell out of the senior people within them - after all , everyone involved in bitcoin is a libertarian nutcase right? What they have worked out though, and what is finally spreading upwards through their organisations is that you cannot have one with out the other, any blockchain needs an incentive system to maintain its security, and none of the "private" blockchain solutions currently can offer the security of the bitcoin blockchain. Maybe bitcoin will not be the "winning" standard but it is the current front runner - and there are plenty of people inventing ways of interacting with the bitcoin chain which will/do comply with regulation. Bitcoin does not need to replace FIAT to be successful - but what it does need to do is move to be lower friction and less costly. (lower bid/offers rather than lower transaction fees)
