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?
...I think it's not impossible to those cashless countries that they only using the digital currency as a best choice for mode of payments, but it's not easy to ban the paper money in the entire world. Maybe it will happen when all countries become united one. Digital currency and physical money are both important unless, it has an individual value remains.