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?
Paper money will never be banned and will just continue to exist. It is the most convenient way to pay and method of purchase and transaction. Likewise, it is the safest way to transact in the internet and even in physical environment. Publicly or privately, paper money is still the best option we have.
I agree Paper money is more better to be use for transaction because we don't need to do it online, we can transact
very simple and fast, of course paper money is still the best option we have. So paper money is still will be life forever.
I also believe that paper money will continue to be used in various countries because the country has their own currency and that identity is always used in every country