Quote from: Iroh on January 04, 2023, 03:54:45 PM

Quote from: Abiky on January 04, 2023, 11:25:25 AM

In a decade, things will remain most likely the same way as they are right now. But set yourself forward 4-5 decades from now, and paper money will no longer exist as a standard means of payment. Our society is advancing quickly by making good use of technology. With CBDCs, governments will be able to reduce waste and gain more control over people's finances. They won't be able to do that with paper money, though.

The advent of crypto/Blockchain tech has raised the bar of the way we pay for goods and services. Central banks and mainstream governments became interested in the tech after the industry grew quickly in popularity. Exactly when will paper money cease to exist, is a mystery. I wouldn't worry about this, as long as we've got decentralized cryptocurrencies at our side. Just my opinion

In a decade, I think people would be using and still very much dependent on fiat currencies for most of their transactions and daily payments. Jumping forward to a few decades from today, fiat currencies may likely not be the most preferred form of making daily payments and small businesses might prefer some other sort of method for making transactions. But I still think the fiat currency would still be very much with us in the next few decades. Maybe not as relevant but still very much alive.

Yeah, I also wouldnt worry too much about if or when paper money would cease to exist.

There will always be changes, and we may not see money no longer circulating or vice versa. In my opinion, only time can answer this, because with an increasingly advanced era, there will definitely be policies and changes to keep up with the times. However, the process to get to an age where money will no longer be seen will be a very long process, and it may not be easy to take it for granted and become a new problem later. We are in an age where nothing is impossible with all the progress, so innovation will always be there and even discussions like this already exist now, so maybe new ideas might start from here.