Quote from: Bananington on January 26, 2023, 10:41:16 AM

Quote from: Abiky on November 09, 2022, 10:47:16 AM

How long do you think it will take for paper money to be phased out for good? Will CBDCs be able to replace not only paper money but also credit/debit cards? Your input will be greatly appreciated. Thank you.

Why so much in a hurry for it to happen. Paper money will go out at the right time when people are already very used to operating, Buying and selling without paper money. Around some of us, this is already happening, people are used to paperless economy, but not the same situation with everyone everywhere. The time when paper money will go out of circulation completely will happen with even the government forcing it to happen, it will just happen because will no longer see it as something to do when there is the safer paperless method for transacting.

Well, you would understand how some of us want things to happen when we feel like it is the right time. I, however, agree with your own assumption, paper money will naturally fade out once people get used to using digital transactions I however still believe that this will still predominantly be within the Urban settlers because, in my region, it will be difficult to conform people living in rural communities to give up using paper monies because these people are still heavily unbanked and are still only used to that form of transaction.