Re: How much longer until paper money is no longer in circulation?

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

I'm beginning to question whenever CBDCs will be able to replace paper money for good, or will it co-exist with the old system? After all, credit/debit cards didn't manage to replace paper money when they launched. For being in the 21st century, I'd say paper money should be phased out as soon as possible. Everything should turn digital, as we live in a digital society.

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.

CBDC is only an improved form of non-cash payments of states. Cashless payments existed in every state before, and no one wondered when they would replace ordinary paper money. It won't be this time either. Digital money will be another type of non-cash money, and everything will coexist with and together with cryptocurrency this time. Convenience lies precisely in the use of all types of means of payment, but they do not replace each other. After all, each type has its own advantages and disadvantages.