Competition between local currencies Vs crypto currencies are in peak now. Crypto currencies have occupied currency market causing local currencies enforce (banks) banning of crypto currencies. We can see number of investors have turned towards to bitcoin and other crypto currencies with large scale. Will there be a chance / time bitcoin and other crypto currencies rule over currency market and local currencies get disappear slowly in a decade or two?
According to me, it might be impossible to influence or make local currency disappear. Local currency is fully suppirted and controlled by the central bank and must be guaranted by the government. What we expect in the future is the existence of cooperation and supporting each other between these two types of currency in improving economy of the related country. We don' t want crypto distabilize local currency but supporting and running well together.