As we see more of these payment systems emerge, crypto will become more important. The thing about large centralized systems it that sooner or later, they will

As we see more of these payment systems emerge, crypto will become more important. The thing about large centralized systems it that sooner or later, they will end up with more virtual units than they can back with real currency and there will be a run on these platforms. History may not repeat itself, but it rhymes. Centralized systems are inherently unreliable and impossible to reliably audit as they can self-report anything. Whatever that single database system reports is treated as true, end of story. Nobody else can verify or contest. The fiat monetary system is itself just made up of a large number of centralized banking systems which have probably issued more units than they claim/believe. But the critical difference from private payment systems is that because the banking systems are treated as the sources of truth to represent the national currency, they can never run out of units. The way this problem will manifest itself is probably through inflation as the banks will have all these new currency units being created out of thin air due to thousands of different system flaws or exploits across thousands of different systems... These counterfeited digital units will be accepted as payment just like legitimate digital units; there will be no way to tell the difference as all the banks inherently trust each other (see correspondent banking). Essentially, fraudsters will control much of the new money minted by various centralized systems which will give them a lot of power in the markets. The reason why crypto is important is that it's publicly auditable and cannot be counterfeited (neither accidentally nor intentionally). I believe that eventually, most economic participants will not be able to get a hold of the national fiat currency no matter how hard they work or how valuable their work is but some other people will have no difficulty getting hold of that fiat currency and they won't work at all (they won't need to). This contrast is going to be the catalyst that causes people to move to crypto as it will cause hyperinflation due to large fiat holders being unproductive members of society and crypto holders being comparatively productive.