I think its needed. Because we need to have a reference currency which will not move or that has a stable price for us to exchange our altcoin into that reference coin and that reference coin will be used as a tool to withdraw your earnings jn cryptoworld. Because banks now a days check if the transaction of a person is related to bitcoin or else. They dont want to be involve to this bitcoin because it is very dangerous and they didnt grt any profit out of this. I guess its the only way to have a legalize transaction in cryptoworld. Ofcourse banks want to ahow security unlike bitcoin its very shaky