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?
Depends on the situation. For savings, it will. Cryptocurrencies like Bitcoin is a superior store of value when the market stabilizes enough. But for day to day transactions, the future is hazy since crypto will always play catch-up to newer centralized financial innovations. But of course blockchains have other uses than money.