First, there is not sucha a thing like a "DABDA Phase". There is Phase D, A, B, D and A
Second, I want to challenge the general spirit of the article:
“Acceptance of BTC is the death of legacy banks and other financial institutions.”
The question is: What are banks doing that could be achieved also by cryptocurrencies? The truth, in my opinion, is that the biggest part of the "value proposition" of banks is credit risk analysis - to decide
who can get
which amount of money as a loan
to what conditions.
While some of a bank's "services" like an account can be provided in an automatized way by cryptocurrencies, risk analysis currently has to be done by specialized people. Even if AIs get, eventually, "intelligent" enough to do some risk analysis, banks will use these tools to lower their costs, too.
So - fortunately or unfortunately - even if BTC was the leading world currency, banks still would be able to preserve the core of their value proposition. What they can't do with Bitcoin normally is "create money out of thin air", but they can provide their services directly to those who want to invest in cryptocurrency-financed businesses.
