One of the points is that settlements systems are private permissioned blockchains, which don't take advantage of one of the main innovations of the public bloc

One of the points is that settlements systems are private permissioned blockchains, which don't take advantage of one of the main innovations of the public blockchains, i.e. decentralised trust. Interestingly I noticed that the recent Bank of England Real Time Gross Settlement Proof of Concept report[0] didn't even use the term "blockchain", preferring instead to use the term "distributed ledger technology" - I wonder if they are concerned about negative connotations the term "blockchain" might be starting to have. [0] https://www.bankofengland.co.uk/-/media/boe/files/payments/rtgs-renewal-programme-proof-of-concept-supporting-dlt-settlement-models.pdf https://www.bankofengland.co.uk/-/media/boe/files/payments/r...