Just as the digital era, the photographic industry witnessed the bankruptcy of Kodak, the rise of online music, the disc has also been quickly eliminated, after the advent of bitcoin, the financial industry may also need to carry out major rectification. Will the bank disappear?
I does not see there will be any threat that will post to the banks by crypto in the current phase of bitcoin technology. We do see some vendors accepting bitcoins payment but in order for the crypto user to cash out to fiat we still need a bank for the currency we are using now. Unless some virtual bank is invented for crypto then the banks most probably will be greatly affected.