I don’t think we should be in a haste of wanting bitcoin eliminate local banking services because satoshi didn’t intend that and I stand corrected but I think bitcoin was created to serve as an alternate currency which would help enhance privacy without a third party intervention but in recent times, people have chosen to make bitcoin more of a store of value than it’s actual purpose of decentralization and believe me, that would also make it very difficult for bitcoin to replace the banking system if there’s any possibility to that.

I do not even think the top government officials would easily want to see bitcoin replace the local banking systems because most of their looting and corruption stealing are done through the local banking systems and it is more easier to cover their tracks through paper money than cryptocurrency which could be monitor through a blockchain.