Customers will choose cheapest most secure service
Blockchain fintech will work more like financial services than traditional banks
When i see how Revolut is popular in my country than i think it will happen
Maybe it why why big banks are creating so much negative news about blockchain and crypto
but until now the use of blockchain is also not as efficient as a bank system that is still active today, so people prefer bank usage compared to blockchain, besides blockchain technology also still cannot be fully utilized. The reason why big banks make negative news about crypto is probably because they still see great potential for the next few years so they want to turn off the spirit now to develop blockchain technology
Banks are really not having any trouble at all when it comes to "extinction" since they are too big to fail. I mean do you know what could have happened in 2008 if banks were not saved? They could definitely go bankrupt and just put all those people in jail and that would be the end of it, right now we wouldn't have these horrible "is it happening again" fears we have.
However if that happened than the whole world would have collapsed, we are talking about trillions of dollars gone right down to toilet with god knows how many people trusting these banks with their money and investments and companies that got promised funding that started projects with so many countries still waiting.
I mean with what happened in 2008 we already barely escaped a world wide crisis and greece and spain got hit hard, guess what could have happened if banks were not bailed out. Hence banks will not have a "extinction phase" since they are just too big to fail.