Digital payments seem to be in the rise lately. More people are abandoning paper money (cash) in favor of credit/debit cards, and even crypto. Paying with cash is a rarity these days. Especially where I live. I'm beginning to wonder if cash is still King. Countries worldwide are already planning to launch CBDCs of their own. So cash's days are numbered. Am I right?
Feel free to share your thoughts. Thanks.
You know, the situation is strange around that subject. For example, everyone thinks that Germany is advanced, developed and powerful nation and if you ask a random guy, they might think that everything is digital here but in reality, the majority of people pay with cash. I've been in developing countries and I was shocked when I payed for bus with visa card. So, things are different everywhere but cash is still the king because not every shop has POS terminal and also, these terminals charge additional fee, so cash is also preferable method for shop and business owners.Feel free to share your thoughts. Thanks.
I hope that cash's days aren't numbered because CBDC is a huge disaster in terms of financial independence. Only the time can tell us what will happen.