Under the digital economy trend, cryptocurrency will involve more fields. It is indeed of great importance to change human life, improve people's economic conditions and bring many benefits.
Although cryptocurrency has many benefits and its use is increasing, it will not replace fiat currencies now.
Scriptucal money aready does. We shouldn't forget that it's not just about digitalisation of money because it's already can be virtually managed. The cryptocurrency system can act as a side-chain which can co-exist with any form of value. As time goes by, until bitcoin & other major cryptocurrencies reach certain stability in the market (equivalence between demand and supply) and the price becomes more stable (like the actual currecies) i think it's too early to know about what will be the available options .
Sorry but what do you mean by scriptucal money here?
Scriptural money is all the available money in bank accounts. Also known as Book Money which is the digital form of money. All this money should be backed by a liquidity reserve but we all know how banks create money in a form of a banknote. This form of money can't be transfered without a third party interfer.
I have to agree with Aurorra, from the current perspectives, crypto will not replace fiat currencies, maybe even during our lifetime. We are already in digital age, but it doesn't mean, crypto can easily replace fiat because fiat can be digitized, and that would be the reason why a lot of governments are creating their own CBDCs and not choosing crypto over fiat. Remember, government always want their full control when it comes to financial aspect.
Like all the stable coins [1$ value], the Central Bank Digital Currency CBDC should be backed by real money in reserve to give it a value, just ike how banks do with scriptural money. Stable coins are not cryptocurrencies, it's designed to be another form of Fiat money and governments try to rely on this type of currencies as it decrease the impact of cryptocurrencies as an alternative for money/payments .