Post
Topic
Board Economics
Re: Is Cash (Paper Money) Still King?
by
shinratensei_
on 22/12/2024, 06:59:14 UTC
Go to any local supermarket and see which currency they are completely comfortable with. It is always cash and will be cash for at least a hundred years in the future. Digital payments have go up but it still uses the same fiat currency in the background - just that the payment method is easier and you would not need the cash physically.

In such situations bitcoin is least known in some countries but might be popular in few, but it is not so in some. Things might change in future, but we only represent a small subset of the world's population.

the use of digital payment has been significantly growing on the digital sector, binance with its binance pay feature has been a great help so far, but can't deny that cash still used anywhere, even we can call those digital cash as just cash but digitalized in an essence they represent cash so at the end of the day cash still dominates.

however things might change with CBDC though, the main reason cash is used widely because it got legitimized by government and issued by the government itself with guaranteed functionality for payments or trades. but since CBDC has those instrinsic characteristics anyway, things might shift.

I'd still believe that crypto still has places though, in the future, i mean, so many people has shifted from using paypal to USDT these days, especially those freelancers.