Cryptocurrency may never entirely replace fiat money. What we will likely see in the future is a handful of dominate independent cryptocurrencies peacefully coexisting alongside the fiat currencies of the world.
Fiat money is used by governments to control and regulate their economy as well as their citizens. For this reason, they are unlikely to ever totally give up on their fiat. Even if those same governments created their own proprietary cryptocurrency, it would most likely not be decentralized. It also might not have a limited total quantity. These two factors would mean that government-backed cryptocurrencies would not be considered TRUE cryptocurrencies.
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matt peperman 
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