It won't be public and it won't be distributed - it would quickly revert to some form of centralized piece, hopefully one at each bank, but will probably end up

It won't be public and it won't be distributed - it would quickly revert to some form of centralized piece, hopefully one at each bank, but will probably end up with one huge central point. They will still call it blockchain to attract gen z to work there, but behind the scenes it will work just as badly as the current mess. It's in the bank's/banking industry's blood and regulations to centralize. Whatever gets thrown their way will get locked down and centralized. I can just imagine the huge audit systems that will spring up to audit the blockchain (where ideally you wouldn't need to audit it to begin with, just look at it cause all the same info is in front of all parties, unmodified). Nightmare fuel actually. Better just to start from scratch (new banks, new core banking software, different kinds of audits and regulations).