Could digital currencies put banks out of business?

Imagine banks are like big piggy banks that help you save and spend your money, but now there’s a new kind of piggy bank called digital currency.

Digital currency is like money you can send to someone else through the internet, just like when you use a toy phone to call a friend. It doesn’t need paper or coins, it lives in your phone or computer.

Right now, banks help people save money and let them take out cash or pay for things. But if many people start using digital currency instead of going through the bank, the bank might not be as busy anymore, like how a toy store might have fewer customers if kids start playing with new toys instead.

It’s not that banks will disappear completely, they’ll just need to learn how to play with this new kind of money too!