Oh, you lost your private key backup and now your kids can’t go to college? Guess you’re shit outta luck, my dude. This level of responsibility is not for everyone.

There is no way around the educational hurdle of the great mass of people to learning to manage private keys.

Do people have an alternative to banks? Is it technically possible?

If only we had chain native ways to do vaults or more expressive ownership. How do we enable that? Oh. With a soft fork.

Lol, yes people have to be able to hold their wealth and NOT lose it in order to spend it later. Welcome to Earth.