To begin with, I'm not sure that banks are just shaking from fear from cryptocurrencies. While banks control fiat and national currencies, and the means of payment in the country is the national currency (+ possibly dollar / euro), they have nothing to fear. And this situation is unlikely to ever change.
Now about digital currencies. For starters - I hope everyone understands the difference between cryptocurrencies and government digital currencies? So - national digital currencies - yes, this is the future! Many countries are preparing, some have gone further, but everyone will go in this direction. This is logical - reducing the cost of servicing fiat money. So that you understand - the costs of servicing cash are huge! Secondly, security and control. As you understand, it is extremely difficult to control cash, digital currencies are already easier, and using certain technologies, the level of control can approach 100%. Primitive theft of money will turn into a useless event, fraud and manipulation - most likely too - an illegitimate operation and tokens are instantly marked and frozen for movement within the system!
In a word, crypto technologies will take digital fiat money to the next level. Cryptocurrency will not kill fiat, but will only strengthen it and help transform it into a better "product"
Undoubtedly, the future is in digital currencies, and all these government efforts will definitely lead to a real result. But it is this total control over the turnover of cash that is a little frightening, because economic activity is not expressed in black and white colors, and the line between fraud and normal economic activity is also not always strictly defined. There may be a situation where a small ordinary person will be unprotected in the face of a ruthless state machine in the person of its representatives. It can happen all the time now, and it's even stronger here.
Absolutely agree. There will always be risks, it is unlikely that an ideal system without flaws will ever be built.
On the other hand, the transition to a digital format of settlements can make ordinary operations safer for an ordinary resident. For example, the introduction of technologies similar to those of cryptocurrencies, such as labeled tokens, will reduce theft or fraud of buyers to almost zero. For example, an application is received for fraudulent actions, the tokens on the scammers' account are "tagged" and become unsuitable for payment, and the victim will be "credited" with new clean tokens.
There is another "side of the coin" - full control by the state of your income / expenses. It doesn't sound very nice, but I have a suspicion that to a greater extent this is a problem for those who have something to hide, and more often than not, this is not a very legitimate income ...
