The future of the paper money

[Trela]

Andrew Haldane said one solution would be for the Bank of England to issue a state-backed digital currency based on bitcoin. Supporting this initiative would be a negative interest rate levied on paper currency relative to the digital currency, with these measures do you think there is more possibilities that sometime:

Paper money will be banned entirely?
How long do you think that happens?
would it work?
What security and privacy risks would it raise?
And how would public and privately issued monies interact?

So you're trying to say replacing bitcoins with paper money? Is that so ?  It will never ever happen money can't be disappear. First of all you need money to buy bitcoins after that you invest with it. If the money got disappear where you guys bought the bitcoins? If you think there will be only bitcoins then thats almost impossible as there Internet is not accessible everywhere, not in every village and every corner of the world.

Second one its a digital currency nobody can control it and it have no fix price. Government never will want such currencies which are out of their control.

1. We can using Bitcoin as the primary currency for the world's economy, there is no problem as long as all people accept Bitcoin.
2. Yeah, the government never accept Bitcoin, they never want to use a currency can not control by them, it is risky for the world and also for them.

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[alexei635]

Fiat is freedom. Governments don't need to. Now we are more likely to use debit cards. Cryptocurrencies will only hasten the process of replacement of the Fiat. But in less developed countries and on the illicit market Fiat will be long 

[ricardobs]

Andrew Haldane said one solution would be for the Bank of England to issue a state-backed digital currency based on bitcoin. Supporting this initiative would be a negative interest rate levied on paper currency relative to the digital currency, with these measures do you think there is more possibilities that sometime:

Paper money will be banned entirely?
How long do you think that happens?
would it work?
What security and privacy risks would it raise?
And how would public and privately issued monies interact?

So you're trying to say replacing bitcoins with paper money? Is that so ?  It will never ever happen money can't be disappear. First of all you need money to buy bitcoins after that you invest with it. If the money got disappear where you guys bought the bitcoins? If you think there will be only bitcoins then thats almost impossible as there Internet is not accessible everywhere, not in every village and every corner of the world.

Second one its a digital currency nobody can control it and it have no fix price. Government never will want such currencies which are out of their control.

1. We can using Bitcoin as the primary currency for the world's economy, there is no problem as long as all people accept Bitcoin.
2. Yeah, the government never accept Bitcoin, they never want to use a currency can not control by them, it is risky for the world and also for them.

Hmmm, some people are saying they don’t want cash anymore. Well, that will be really nice, at least when bad boys steal our phone they will also be stealing everything we have if our phone has our Bitcoin wallet in it, very good, I know most of you wants that. Lots of people will start learning hacking, so that they will be able to hack wallets and steal bitcoins from them.

I know most of you will really like that; loosing everything you have in the hands of hackers. Think twice! We can’t do without cash and bank, they will always be needed, only a fool says he don’t need them.

[000JC88]

The future of paper money is Token economy,  a global currency can work well but a token global economy can work fine.
Paper money can not live long, is going to be replaced in the next 10 years maximum, the technology is not ready for this but its very near for  this!

[karnwillbit]

Paper cash is going to be eliminated quickly or later on,credit and debit credit cards as bitcoin will change and become the primary method to moove your hard earned money ,soo they can begin an coutdown,as governements see the things they can help to save stop printing the coins ,but with printed cash they are able to control the flux of the forex.

more people tends to depend more on cards or digital ways of payme.t other than having caah, soon only few people will use it as their main source of transactions since innovation were already happening now.

No doubt people are now investing in crypto currencies and this is the reason behind the present worth of Bitcoin because it is supported by large number of investors and that number is increasing gradually. 

If we ignore the public support for once and just focus on governments, we can see that many are planning to launch their own crypto currency.  China already has its own digital coin which shows the future of money lies in digital assets.

[tbterryboy]

Paper cash is going to be eliminated quickly or later on,credit and debit credit cards as bitcoin will change and become the primary method to moove your hard earned money ,soo they can begin an coutdown,as governements see the things they can help to save stop printing the coins ,but with printed cash they are able to control the flux of the forex.

more people tends to depend more on cards or digital ways of payme.t other than having caah, soon only few people will use it as their main source of transactions since innovation were already happening now.

There is no one out of us who can tell exactly what is going to happen in the coming t=years. In my opinion, paper money will remain there in this world and it will not be like totally eliminated from this world. People will be using paper money for their daily use but the use of paper money will become very much less. Digital currencies will replace paper money but paper money will also have its existence.

[BeGoods]

I guess paper money will disappear in no less that 100 years. During this time it will be used in parallel to crypto money

I believe that technology will change the world including the currency. along with the times paper money will start rarely used many people will start thinking to use a flexible currency and easy to carry then digital currency will be more popular and more widely used. paper money will disappear soon #IMO

[profit-shooter]

Full support for revolution in the financial world, decentralization and reducing control from the state side. They must give people to live in freedom!

[Maslate]

Full support for revolution in the financial world, decentralization and reducing control from the state side. They must give people to live in freedom!

This is our time now because we can definitely live with full freedom as bitcoin cannot be controlled by the government.
I am hoping this success that we are enjoying now will continue in the future so more people will know and benefit in using bitcoin.

[jaaeeeyyyy]

I think paper money will never be banned , first of all we cant convert all the money the people have because of limited funds of bitcoin. It could happen but not that near because its not easy to change from physical money to digital money. Yes it could work , specially if the government will agree to it and its all constituent. For the security , if ever , the government should adapt more civilized and efficient securities. Public and privately monies will adjust obviously as if government would command them.

[radjie]

Paper money will vanish in the next 20 years at least in the developed countries. In developing countries it will exist several years longer.
However I can not say I don't like the direction we are heading. Digital centralized, completely controled government money is a nightmare.

I think the future of paper money will remain safe and will not be endangered because paper money is very easy to use in the transaction process by any circle, and paper money can be used anywhere where we are not need to find a special outlet to use it

[fileo]

Paper money is good in terms of security and not losing everything when some bad things will happen. The security of it you can put it into digital account.
In the coming years it will change. Money will be safer and smaller. The developers will do something new, affordable, safe, secure, and reliable account for everybody that want it.
I can't grasps what will exactly happen in 20 years to come.

[Happy Miner]

Paper money will never disappear, because not all people can use bitcoins or other digital currency. There are children, there are old people, and also people with limited mental abilities. It is more convenient for them to buy for cash.

[Nylelyn]

Paper money is indispensable in our lives. It will always be present even in the future.  You cannot always buy things online and pay digital money.  For instance in our country,  we have such thing called "Sari Sari Store" or these are the small retail vendors where we buy our immediate needs in our neighborhood and ofcourse, it is small so they cannot accept money transfer for small amount.

[Grayy]

Paper money would be used less and less in the future. However, paper money would have to stay at to give digital money its value. There are a hood number of people who are quite unfamiliar with how digital currencies work, especially in developing countries. It would be a herculean task to wipe out paper money entirely in the next few decades.

[Sled]

Paper money will vanish in the next 20 years at least in the developed countries. In developing countries it will exist several years longer.
However I can not say I don't like the direction we are heading. Digital centralized, completely controled government money is a nightmare.

I think the future of paper money will remain safe and will not be endangered because paper money is very easy to use in the transaction process by any circle, and paper money can be used anywhere where we are not need to find a special outlet to use it

Indeed, it will stay being safe rather than the cryptocurrency because paper money is a daily basis kind of money and because of paper money we have a form of money that we can use to transact different kind of things and services without worrying for an internet connection and other type of things that you need to deal with when you are in cryptocurrency.

[nagatraju]

I don't think that there is a possibility of the disappearance of paper money...they have always been and improved...although perhaps it is a good idea with only non-cash settlement...but then we should haven't any problem with the Internet and communication

[DarkIT]

I don't think that there is a possibility of the disappearance of paper money...they have always been and improved...although perhaps it is a good idea with only non-cash settlement...but then we should haven't any problem with the Internet and communication

you are right. even some of the people have assumed that it is a good form of money, and more efficient. well, paper money would be the first choice in fiat money.

[nemesis_]

Due to the development of technology happening nowadays, the replacement of paper money by digital currency is a possibility. But in here, it will be hard to trace the transactions happening between the users which is not good for some government. Many countries may not consider and accept this now. So paper money will still be used for a long period of time. This replacement will take time before it will happen.

[patimahsunda]

Paper money has its own portion. I think it will not be replaced with bitcoin. because paper money and bitcoin have different potential. So paper money will continue to be used and will not be replaced. Only the wearer may be reduced.