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.
Feel free to share your thoughts. Thanks.
Paying with cash might be a rarity where you live, but using cash is totally normal where I live. Actually, cash still dominates small financial transactions in my country.
I no longer make a difference between digital fiat money and paper fiat money. They are all fiat money, so it doesn't matter if you are going to use digital fiat or paper fiat.
The topic about CBDCs has been discussed multiple times and so far I haven't heard anything about a "digital dollar CBDC" being launched(or a "digital euro CBDC"). China probably launched a digital yuan CBDC, but I haven't noticed any news about that lately.
I think that CBDCs won't change anything that much and cash would still be used for payments in the next 5-10 years.