I hear it all the time. Bitcoin/crypto is alternative to fiat. And almost every token philosophy is based on this premise.
The question: can cryptocurrency beat legacy financial institutions to the point of replacing them?
... Thought as much... The much lauded JPMCoin was all noise and no substance. But can an accident happen to make legacy institutions catch up to the decentralized world?
I doubt that bank can defeat by Bitcoin or crypto, because digital currency was always connected into fiat and through bank in some other way We can able to convert it into a real money. Probably in the end, bank can adopt the concept system of Bitcoin and crypto through blockchain technology.