As if the banking system is any better. How can any legitimate payment system which has no cryptographic operations, is highly centralized, where the money can be printed out of thin air and way too many other reasons, be taken seriously?
Because it works, and we've developed massive institutions (the federal reserve, FDIC, SWIFT, credit rating agencies, and other financial market utilities) to keep it working in a way that benefits the vast majority of people that use money
