Crypto-only economy is nothing more than the libertarian day dream. When some countries ban cryptocurrencies right now, it isn't possible.
Maybe, maybe not. If governments shift entirely to the digital economy, then it's possible we might experience a crypto-only economy in the future. Even if governments decide to ban decentralized cryptocurrencies from usage, people can still access them. With decentralized exchanges, atomic swaps, and privacy solutions, anything's possible. Since the emergence of COVID-19, people have resorted to digital payments and online jobs. If the trend keeps up, physical cash will cease to exist paving the way for truly-digital Fiat currencies. CBDCs will truly enable a crypto-only economy like never before.
Nonetheless, time will tell us how long the world will become accustomed to crypto-only payments. As long as old generations stick to physical cash, it may take a long time before you and I will be able to witness an economy driven by both centralized and decentralized cryptocurrencies alike. Just my opinion
