I think the thought process is that paper money is already controlled by world governments, so this isn't meant to be a replacement for paper money, but rather

I think the thought process is that paper money is already controlled by world governments, so this isn't meant to be a replacement for paper money, but rather just an intermediary so the transfer of money can be done more easily and cheaper. I think another point is that if you want a truly decentralized, no government involved, cryptocurrency, those still exist, go buy and use some bitcoin.