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?
The more I look at the future, the more I see a brighter future for paper money. We shall reach a point where people will be fed up being tracked and traced all the time. And the only way against that mass surveillance warfare is to use cash. Cash is also a nice option to save money because of falling interest rates. They're already negative in some countries!