It was a concern that many have thought that crypto will certainly be able to defeat the banks. But we're getting the picture blurry these days as these banks are also adopting to changes.
They're just doing the innovation through digital payments and currencies that they govern.
Bitcoin and cryptocurrency won't defeat or kill central banks, commercial banks and fiat currencies or CBDCs. Bitcoin can outperform fiat currencies, CBDCs in purchasing power over time but by beating, killing I meant Bitcoin will get rid of fiat currencies and CBDCs. It simply won't happen in future and it is kind of over fear.
If a Bitcoin maximalist, investor hope it will happen, it is unrealistic hope. If globally, there are governments, it will not happen.
bitcoin may not outperform fiat, but i believe, just be grateful that btc was invented. fiat is still the major currency that most population will stick to. cbdc is just an alternative but i don't think it will be the major currency, but who knows the future, right?
large population are still depending on bank services, so there's no in a hurry here.