Re: How much longer until paper money is no longer in circulation?
Paper money will not be eliminated. Although digitalization is a trend now and digital currency is very convenient, there are still many people who do not use smartphones. Many people still rely on paper money, and its use has become habitual.
Believe me, the transition to digital payments will be inevitable. Especially when governments want to reduce waste (protect the environment) and eliminate privacy for good. It may not happen during our lifetimes, but it will in the future. The new generation will become digitally-native, so they will choose a CBDC over paper money anytime. This may be only the beginning as the worst is yet to come.
When paper money becomes history, decentralized cryptocurrencies will be the only alternative for those looking to preserve their privacy. Let's make the most out of paper money now, before it's too late. Just my thoughts
