As we enter the digital realm due to the effects of COVID-19, the process of central banks phasing out physical cash from existence might take place soon. Before the outbreak, we've been accustomed in using credit/debit cards and contactless payments greatly eliminating the need for physical cash. Now that we're in a "COVID Era", things have accelerated quite a bit. Banks and governments are in talks of adopting CBDCs which could completely eliminate the need to pay for things with physical cash.

Now the real question is, how long will it take banks to start the transition from physical to digital cash (CBDC)? Do you think that physical cash will still be used right after governments adopt CBDCs in their entirety? Or will it take decades before every single person in the world stops transacting with physical cash, paving the way for a full-fledged cashless society? Your input will be greatly appreciated.

It will take some time probably if it will going to happen but for me fiat or the physical money should not be eradicated. It is good tha people could have a choice whether to use the physical money or not. The good thing of having the digital money is the ease of doing transactions while in physical money the ease of doing small business where still not accepting digital money and still uses the physical money. If all will be digital then there could be a lot of issues we will going to face and that includes the dependency of digital to which it will require network cnnection for onlinr transactions. Costly too because operations, maintenance of the equipment to be used will be added to the consumers.