All the big players in the Association can probably afford this gamble, but if they don't already have the government and the banks on their side, then this thing is DoA.

Government only really needs to do a few things to be essential, one of those things is securing and backing the legal tender, and yes this is also one of the ways they exert authority. It's also how they maintain legitimacy, this has been true for thousands of years.

What country is going to give up this power and hand it over to a consortium of multinational corporations (with 0 banks in it) led by a corporation that is controlled by a sole person?

If it can't be nationalized then they won't let it be adopted and I'm sure every country (including the US) has any number of laws that will allow them to prevent the undermining of their currency.

They let Bitcoin do its thing because it lacked all the things this has, which let them classify it as something closer to commodity/security, and not a currency. If this thing isn't that, then I don't see how this is going to be acceptable without the government demanding a massive hand in how it is run.