In 2009, the first cryptocurrency -Bitcoin-, officially launched and since then has continued to roll into a snowball effect that poses a serious threat to the existence of conventional finance. As much money as the restless World Central Bank, the government seems helpless and dragged into the vortex of the evolution of the world's financial system. The Covid-19 pandemic has become a catalyst for forcing the entry of all financial and banking industry sectors into the digitalization era. Imagine a concept of a world without physical currency. It is strange, but real. Money will be removed and replaced with a digital currency system.
https://www.ithb.ac.id/en/article/Cryptocurrency:-Masa-Depan-Keuangan-Tatanan-Dunia-Baru--311. The launch cannot be said it was official perse since it was not until the price spike that it was recognized all around the world, by the governments as well.
2. It does not serve as a threat to the existence of non-conventional finances since at the end of the day, it works hand in hand with most banks, trading and converting it into fiat is very essential.
3. They are the future of the finance only when integrated with the traditional system and with the support of the government and people alike
They are giving people financial freedom and stability which most traditional assets fail to provide during pandemic.
4. They should not be seen as a threat but rather an upgrade!! This is just my thinking.