Re: How much longer until paper money is no longer in circulation?
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.
Yeah, I also wouldnt worry too much about if or when paper money would cease to exist.
I think it will take more than a decade for Fiat (paper money) to be taken out of circulation for good. CBDCs haven't been rigorously tested yet to become Fiat's eventual successor. Some countries have already launched their own digital currencies, while others are still thinking it through. We already have "digital cash" in the form of decentralized cryptocurrencies (eg: Bitcoin, Ethereum), so why wait until CBDCs are released for public use?
You can bet that once CBDCs are launched, the end of privacy will begin. They will give more power/control to the government over people's finances. It's likely people will massively adopt decentralized cryptocurrencies after this happens. No one can predict the future so we can only hope for the best. Just my thoughts
