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?
I still very much believe that even when the future adopts Cryptocurrency fully, the role of fiats can't be totally scrapped out. There some developing countries that still don't have access to the internet talkless of the blockchain technology. In these areas, physical cash will still be predominantly used.