Andrew Haldane said one solution would be for the Bank of England to issue a state-backed digital currency based on bitcoin. Supporting this initiative would be a negative interest rate levied on paper currency relative to the digital currency, with these measures do you think there is more possibilities that sometime:
Paper money will be banned entirely?
How long do you think that happens?
would it work?
What security and privacy risks would it raise?
And how would public and privately issued monies interact?
t wil be not banned, it will be issued as much as there will be interest. At some point almost none. How long wil take that there will be issued almost none paper money. I would say about 20 years. Maybe more, for sure not less.
You caN TELL ALLOT about the future but the future of the paper money i dont think that he will go away because the bitcoin will also not disappear and the
paper money will be at the same time here.