For sure, we can debate the timeline, we can debate what language will replace C++. The way I read stefanos82's reply is that they don't believe C++ code will ever be rewritten, which is obviously not true.

COBOL running the financial sector is a myth in my opinion. There are still companies running aspects of their business on it, but calling it the 'backbone' is an overstatement. If you tallied up lines of code by language in the sector, I would wager COBOL makes up less than 1%.

The backbone is a minority of the bones in the body too, but without it you're screwed.

My previous job was at one of the largest investment companies in the world, if the COBOL went away the company would collapse.