Re: How much longer until paper money is no longer in circulation?
Yes, I think paper money is going to be phased out at some point globally. In some countries, like Sweden most transactions are digital already now and paper money is quite rare. On the other hand, in countries like Germany or the US cash is still king, there still are many places where cards are not accepted.
It's a good thing cash is around, especially when we want financial privacy. Once all of the world's countries switch to a CBDC, you can say goodbye to anonymity for good. By the time that happens, our only option would be a decentralized cryptocurrency such as Bitcoin or Ethereum. That's if we still want financial freedom.
For true privacy, we'd need to use a mixer or a privacy-oriented cryptocurrency such as Monero or Zcash. When offline, I can't think of a way to pay for goods and/or services other than using Gold, Silver, or any other precious metal in physical form. We're decades away from seeing paper money being phased out of existence, so there should be nothing to worry about. Just my opinion
if we do fully applying that CBDC then i cant really be able to cope up on how everything would really be just fine because not all would really be that knowledgeable on doing so.
Not all would be having the opportunity for them to make use of whats needed.
This is why i dont really believe that fiat or paper money would really cease to exist because know on how important it is and there's no way that government would really be allowing
for it to be eradicated so easily.Its true that there's still way on being anonymous on fiat unlike on cbdc on which everything would really be known about incoming or outgoing transactions.