This is the reality as long as we are modern. Think back to ancient times when people didn't know what money was. They make transactions through products. That is, one would replace the other's meat with vegetables. And that was the process of their transaction. People have changed over the course of the day. At one time they used the leaves of the tree as a means of transaction. Later, gold coins and silver coins were gradually introduced. And today paper money has been created to make transactions easier. But even 300 years ago there was no bank, and today we cannot go without a bank. In the same way, 20 to 30 years from now, maybe the banking system will go up. Because people don't want anyone else to know their bank account. And people will choose digital cryptocurrency as an alternative to this bank. Bitcoin may be his alternative. Bitcoin is a decentralized process. This means that there is no need for a third party in this process. There will come a time when people will no longer take the help of banks. They will manage all the activities of daily life starting from shopping through digital cryptocurrency.
If my idea proves to be correct, will the government of the country accept it?
1. Will the government of a country ever want their banking sector to be abolished?
2. How will the government collect taxes from the people?
3. If the government can't keep track of people's legitimate money, won't corruption increase?
You've actually right about the fact that it is possible for bitcoin and other cryptocurrencies to become the order of the day in the next 20-30 years. I also believe eventually, sooner or later, the government will adopt cryptocurrencies and the Blockchain technology.
1. The only other course of action for the government is to create a government-backed cryptocurrency. A stable coin just like the USDT. That way, there won't be the need to abolish the banking sector as many of the transactions using this government-backed currency will still most likely go through the banks. I don't how this will done yet but I know the government won't give up its control of money just easily.
2. This is one of critical issues facing crypto users. The issue of government regulation and taxes. While the government may not be able to to control bitcoin, I believe it would be able to monitor and control the government-backed coin and thus taxes will be placed on it.
3. Of course, there will be increase in corruption especially among money launderers.