This has been several times that some people say about Bitcoin that will replace dollars or fiat, or crypto that will replace banks soon.
Well, actually it may be possible, but I am not sure this will be easy and will be done during these 20 years or more.
And maybe, this will not happen.
We know that dollar, other fiat, and banks are centralized, controlled and managed by not only government in each country, but more than it, by a big power behind the world bank.
And , I ma not sure that even this is a digital era, they will let Bitcoin replace fiat. We all know that today, they also crypto develop their services to fit to this digital era, more technology advanced development.
What I think is that Bitcoin will be probably used as one of the global currency, accepted by many more countries and merchants as a currency, less ban and others. But this will not replace.
Decentralized cryptocurrencies, including bitcoin, will never replace the dollar or other national currency of a developed country or replace their banking system. For something like that in El Salvador to happen, it is necessary for the state authorities to make such a decision themselves. But it should be borne in mind that El Salvador is a backward developing country that did not have its own national currency. Therefore, there bitcoin was recognized as the national currency, but did not replace the currency of the state.