Yes but the backbone is still decentralised. It is very real possibility for one person to make wallet or a service on blockchain and be part of the network.
It is very hard to be part of the traditional banks network. We can debate if it is better that there is much higher cost to entering but overall if the backbone is open then it should help innovation.
It is very hard to be part of the traditional banks network. We can debate if it is better that there is much higher cost to entering but overall if the backbone is open then it should help innovation.