Right. I take this verbal tic as an indication that the banks do not think bitcoin is a viable financial protocol, as the reward structure of bitcoin is essential to how it works. Blockchain without bitcoin, or blockchain that distributes tokens arbitrarily, is not trustworthy. It is &quot;trusted&quot; ie vulnerable to defection by any member institution. The banks pushing blockchain without bitcoin might as well be using the Ripple protocol for their desired applications, given that they do not seek the benefits of nakamoto distributed consensus.