As long as the blockchain-based currency doesn't have a legal tender status, won't banks have to clear elsewhere anyway? The way I see it, unless the central b

As long as the blockchain-based currency doesn't have a legal tender status, won't banks have to clear elsewhere anyway? The way I see it, unless the central bank joins the party and declares records on the blockchain as the final word over ownership and that the blockchain currency must be accepted as legal tender, the blockchain records are just that - historical records to keep track of who-owes-who-what, with settlement happening elsewhere and enforced via contracts, lawyers and court. The point being, blockchain makes sense for bearer assets like Bitcoin, where owning the key is owning the asset and there are no other external processes that can effect ownership (moving around trucks with cash, court disputes, etc). What banks really need, in my opinion, is simply a cryptographically-signed append-only log where they record debt among each other. No global consensus, shared state or blockchain is needed here - just a private log for each pair of banks that transact with each other, kept locally for the interested parties only, and which can be used in court if either party misbehaves and does not settle the payment.