Post
Topic
Board Economics
Re: How much longer until paper money is no longer in circulation?
by
Ludmilla_rose1995
on 27/01/2023, 18:32:50 UTC
We should not abandon paper money. It must always be remembered that paper money is the most untraceable by governments, and digital money allows officials to completely control the financial activities of their citizens. Yes, and in many cases it is very convenient to make small everyday transactions in cash, especially if transactions are made between citizens. Therefore, I think that cash will always be in demand. Their mass will undoubtedly decrease, however, to a certain level. In addition, cash should be kept at least as a backup option, when the use of technical devices for making non-cash payments becomes impossible due to various technical failures and large-scale disasters.
It's not safe to keep cash on a large scale because the government is always making new banknotes and the thing to fear is that the banknotes you keep will be withdrawn from circulation and that will expose yourself. for the next few decades, people will definitely continue to use paper money because the government also recommends that, but the use of digital money will shift the dominance of paper money.