The European Parliaments Committee on Economic and Monetary Affairs (ECON) has come up with a report on cryptocurrency entitled Virtual currencies and central banks monetary policy: challenges ahead. The finding of reports shows that cryptocurrency will not replace fiat currency, even in the long term.
https://bit.ly/2NeLgLrI believe the main idea for the creation of cryptocurrency was not to come and replace fiat. Cryptocurrency was developed with an idea of making transaction of funds to any part of the world easier, simple and fast. This was developed to create a decentralized ecosystem with no one controlling the amount of funds sent on this ecosystem.