Would banks and governments actively work and implement countermeasures to undermine this process? Are the underestimating the potential of cryptocurrencies by investing in some of them?
Do you think there is a possibility of cryptocurrencies being banned in the future for the reason of being a threat to "normal" currencies?
Yes, it is possible to replace cash with cryptocurrency, but it will take a long period of time to happen. If all of the countries around the world follow other first countries who ban bitcoin then it is also possible to freeze cryptocurrencies. Right now some countries regulate bitcoin because lots of people investing on it and not at the banks, if people forget banks then it affects the economy of the country that's why some countries are intimidated by cryptocurrencies.