We don't need a other cryptocurrency company. That's not the point. And with cryptocurrency we don't need the banks at all.

The thing is, I want banks. I don't want a system where if someone gets ahold of a secret key all of my money is gone forever. I want a system that protects me from theft and fraud.

Right, so non-cryptographic bank account numbers and credit cards are the answer. Because someone can just change a database and pretend it didn't happen.

It's really quite a lot worse.

My bank sends me cryptographically-signed bank statements. So, if they just erase my bank account by mistake, I can challenge them with the statement that they sent me earlier.

In theory it sounds worse, but in practice I have the impression that crypto has a much worse track record in terms of the percentage of people and currency that have been victimized by theft.

If big banks were being stolen from at the same rate as crypto exchanges, the news would be pretty Wild West.