Re: The future of the paper money

Several months ago in my country, they banned the higher-denomination banknote, but not even they haven't achieved cover the demand of the new banknotes, even the ATMs need new configuration for these new banknotes, maybe adopt a cryptocurrency would be easier and cheaper. Because most transactions are made via POS.

You are from India and do you expect India to get corruption free? I mean your country is full of bunch of assholes who will even sell their mom and wife for the sake of money and you expect that bitcoin will replace paper money in your country?

India is not the unique country that has banned higher-denomination banknote, I'm from Venezuela but its the same case I don't think the government will change anything because they are very corrupt.

The government in my country is also corrupt, but I think all the decisions they make have been through good judgment so as not to endanger the country's economy. But I think the government should also be more brave to change their currency with the currency that has been used by several countries together, because the currency will be stronger because it is supported by more than one country. And the money must be minned not printed.

That is not a possible solution to mine the money that we use in our daily living. Governments can digitise the money which will reduce the production cost, but the features of paper money should never be ignored. People are much adopted to paper money usage, but on digital use fee was levied along with taxes. This needs to be eliminated on digitisation for effective functioning.