Bitcoin could replace the money but its from now real far a way if you ask me, due to the reason the bitcoin has to get a lot bigger if this would happen. I think with the future of the bitcoin is possible but it will take a couple of years maybe even more something near the 10 years.
- Paper money can't be replaced neither by virtual currency/ internet banking/ cryptocurrency completely.
- cryptocurrency like bitcoin can replace or atleast dominate payment processor market
- banks will always be in existence with improved system and security and even they may implement blockchain tech in their system
These are the few possibility i see regarding whole world economy and financial systems.