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?
If you ask people who actually print the money, does not care about their prospect of a cashless future, they answer: not at all. "In truth, looking at a steady increase in cash turnover, we do not expect that cash will disappear in the near future - and even not the closest," says Eric Ziegler of Crane Currency's design and manufacturing company.