They are of the point of view that since internet cannot replace the newspapers, the same is true with the banks. Being a crypto lover, i would love to see banks eliminated but does these big people with so much money will let that happen
Cryptocurrency can be compared with the fiat only. Obviously Bitcoin can't replace completely, there is always some people who will walk in a different ways. Not all the countries give it approve in their country. It is not found in physically, it's totally built on virtually. So, it has value but you can't touch it. We are not living in a fully cashless world. So it will not possible to replace now. But in future less possibility of replacing it compared with fiat.