YES!!!

This is the biggest weakness with using Bitcoin - if the electricity goes out or you're unable to reach the blockchain, your funds are not accessible (they might as well be worth nothing).

But, Bitcoin was never designed to be a doomsday currency. It was meant to be a more fair, more efficient way to conduct current financial transactions.

This is the beauty of it, it won't need to replace fiat (nor should it) because fiat will always be necessary in emergency situations. This will help prevent the rulers of fiat currencies from meddling with Bitcoin.