Post
Topic
Board Economics
Re: The future of the paper money
by
whaawh
on 11/10/2017, 18:01:08 UTC
I personally don't think paper money will completely disappear any time in the near future. It is true that electronic transactions have become more and more common over the last few decades and I see no reason why this trend will not continue. We may even get to the point where paper money transactions become incredibly rare. At that point, the tables could turn and what we now consider paper money may actually act as the backing to our electronic currency, the way the gold standard once backed paper money.

With electronic money there is question of privacy security and many people don't believe in electronic money they still prefer physical money and this will prevail in the future too.
Digital money is very develop now in most of the countries because using of digital money is easy as compare than paper money but keep in mind that paper money have his own value everywhere and it is not possible that paper money will complete disappear from the world because without paper money currency is not possible of any country.
The fact is that to date electronic money occupies a very low place in the financial sector in the world economy, but we must also take into account the fact that many people are not ready to use crypto currency. The fact is that to use crypto currency, you need a lot of specific knowledge and even education.