Modern banking is just a version of crypto with extra steps but less security, trust and speed

Less than 20% of payments worldwide use physical cash, and expected to halve by 2025. This number is heavily skewed by lower-income regions of Africa and Latin America. This is to say that most payments are digital. Thinking about even when making larger transaction such as buying a car or house or even say a vacuum cleaner. Many a time these payments occur digitally through some database at a bank that simple subtracts values from one account and adds it to another. This is much more so for organizations that transfer between tens of thousands to millions.

This begs the question, if modern banking simply occurs on digital accounts(or primitive ledgers, if you will), why would one bother using banks? The obvious answer would probably be the complexity of crypto for the lay-man. But all new technologies go through grow pains of usability and user acceptance which are inevitably solved with time. And at that point why would we needs banks? At that point, banks would just be crypto with a lot of extra steps and a lot less features. Bank transfers are only doable when banks are open, are a lot slower than crypto, you can arbitrarily lose money access to your money, banks place limitations on what you can do with your own funds and you just have to sort of hope banks don't fail. This is not to mention the massive convenience compared to traditional banking.

Crypto is coming.