At a Bank of England conference, the Managing Director of the International Monetary Fund, Christine Lagarde has suggested that Bitcoin and cryptocurrency have as much of a future as the Internet itself. It could displace central banks, conventional banking, and challenge the monopoly of national monies.
In the long run, blockchain technology and cryptocurrencies can replace national monies, conventional financial intermediation, and even "puts a question mark on the fractional banking model we know today."
In a lecture that chastised banking leaders for failing to embrace the future, she warned that "Not so long ago, some experts argued that personal computers would never be adopted, and that tablets would only be used as expensive coffee trays. So I think it may not be wise to dismiss virtual currencies."
https://fee.org/articles/imf-head-predicts-the-end-of-banking-and-the-triumph-of-cryptocurrency/