This topic has overly been misconstrued.
Crypto replacing banks does not MEAN that Banks will die out abruptly or that everyone will just automatically be using crypto and ditch banks; the internet has been around for over 2 decades yet we still have billions of people who don't use the internet; e-mail has been around for a long time, yet we still have folks who don't know about it or even use it.
It MEANS censorship resistant, the ownership and ease with wish you do what you like with your money; whenever, wherever and however. The other day, someone transferred his $450m from his bedroom using Bitcoin with no hassle. I bet if you wanna do that with fiat, you will be told to bring your entire family members, 10 Attorneys etc. And the money will not be available at a go like that, maybe in batches.
As for the volatility, it is just a baby industry barely a decade old. Give it time.
The Banking sector is centuries old.
#1 naira used to be equal or more than $1 was it not?
But today $1 is #360 naira. It was #500 naira to $1 at a time (call it its ATH lol)
Many Nigerians with a shit ton of naira back in the day would have lost their hard earned money to the devaluation.
So volatility, that's no argument really..
If we are wise and objective, it is the usefulness, what it has to offer, we should be debating.
The US dollar is world super power and has managed to make the dollar deceptively stable at the detriment of other currencies.
You think naira in your acct is stable because you're in your shores. Try to buy dollars with it, or spend it elsewhere then you would realise you lose some naira as well.
Zimbabwean dollar keeps on plummeting to the ground, ever wondered why? her citizens are scared to keep their money in their own national currency.
People who see Bitcoin as solely for hyip got it all wrong from the onset.
It's PRIMARILY an efficient form of money, that is also traded as exchange.
People will eventually have a choice to make on how they wanna own and use their money.