The future of the paper money

[boyshx]

I don’t understand why people are so worried for paper money. Paper money is here since hundred years & will remain there for next so many years. As compared to $83 Trillion world economy, fiat currency has $31Trillion where as cryptocurrencies share is $100million. So how fiat currencies future is in danger? Fiat currency is the most convenient and highly used currency in all parts of the world. Their centralised nature assures its holder a security. They are owned and controlled by government or by central bank so less volatile in nature. Any class of society can use it without any infrastructure.

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[putrii]

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?

the future of paper money seems to be useless in the future because if you still use paper money it will not be efficient, it is time we develop using digital currency like bitcoin which is more simple and safe.

[Condoriano]

Paper money is much needed to control the market since they can always count how much paper money they release.

[deejayce48]

How could that be a money backed by Bitcoin? Bitcoin is the money itself. If government wants Bitcoin, then they should replace paper money with Bitcoins. And if that happen, the government can no longer controls and can no longer track us.

[Willeampere]

The use of paper money will never end, because there are still locations and people that are not connected to the Internet. That's why it takes so long. Perhaps after the 21st century, paper money can end.

[Bella Thorne]

Paper money is much needed to control the market since they can always count how much paper money they release.

I think the future of paper money is also bright because paper money is all people needs to buy there daily needs in life and paper money is people needs to use for paying there expenses so i am sure that even in the future paper money is we will have sa bright future.

[lendahawkins]

I think paper money will last as long the citizens of the country still need it. It will last 20 or 30 years from now. Even many e commerce and bank trying to replace paper money its still need more time to educate people to plastic money and electric money. If the secure of electric money increase and get more previllage from e-money its not impossible the paper money will lost the existence.

[carlisle1]

banknotes including fiat money managed by the government. if in appeal to cripto money very much different, because fiat money will get many rules from the government such as taxes. while crypto money will not be affected by the government.

The cryptocurrency or the crypto money cannot be controlled by the government but as long as majority of people are still using fiat, we are still gonna
covert our bitcoin to fiat which in such case we will be able to pay taxes since the government can control the exchanges.

physical money will femain forever.because we must accept that virtual
money can only support the transaction over internet and with electricity power.
but the physical money will do the rest.and the virtual money has a limited
function in our daily needs.not like physical that can cover all

[aftab.436]

banknotes including fiat money managed by the government. if in appeal to cripto money very much different, because fiat money will get many rules from the government such as taxes. while crypto money will not be affected by the government.

The cryptocurrency or the crypto money cannot be controlled by the government but as long as majority of people are still using fiat, we are still gonna
covert our bitcoin to fiat which in such case we will be able to pay taxes since the government can control the exchanges.

physical money will femain forever.because we must accept that virtual
money can only support the transaction over internet and with electricity power.
but the physical money will do the rest.and the virtual money has a limited
function in our daily needs.not like physical that can cover all

The future of the fiat money is very dull, in the future the fiat money may disappear because bitcoin give such facilities to the holders that the paper money can't. Also the rate of the rising in the value of the bitcoin is very high while the value of the paper currencies considers fixed which also effect fiat currencies and make bitcoin great. The security of the paper currency is very low which bitcoin have a strong security.

[Sweeet123]

As of now the world is not ready to completely go digital currency, this would be a big change for people ,and I am pretty sure not everybody is ready to embrace such a big change, people still trust and rely on paper money, so yes coming to the future of paper money, it still has a long way to go

[OrangeII]

As of now the world is not ready to completely go digital currency, this would be a big change for people ,and I am pretty sure not everybody is ready to embrace such a big change, people still trust and rely on paper money, so yes coming to the future of paper money, it still has a long way to go

agree with you. even many people who complain about the use of bitcoin, even some countries make it illegal. certainly, this makes the use of paper money to be higher and can not be left behind.

[futuret]

banknotes including fiat money managed by the government. if in appeal to cripto money very much different, because fiat money will get many rules from the government such as taxes. while crypto money will not be affected by the government.

Not all the people think like this several courtiers are even thinking to make bitcoin as the legal and regular money of their country. For me whenever I go to some markets I mostly saw a board written as bitcoin payment service is available. So it is not a big deal to have bitcoin now a lot of countries are going to make it legal. Bitcoin demand is now very high and people are using it as legal currency so future of paper money it in danger zone.

[Hopeful2017]

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?

If those first world countries start doing that, others will follow. But I think paper money would not totally be banned because not all people can do digital or online transaction. Also, not all stores are online or virtual. They would still consider those small businesses especially in those countries with a lot of street vending.

[Ipwich]

As of now the world is not ready to completely go digital currency, this would be a big change for people ,and I am pretty sure not everybody is ready to embrace such a big change, people still trust and rely on paper money, so yes coming to the future of paper money, it still has a long way to go

agree with you. even many people who complain about the use of bitcoin, even some countries make it illegal. certainly, this makes the use of paper money to be higher and can not be left behind.

We are talking about the world which is compose of big population, I think we will not see even in the future that majority of people
will be using digital currency and if ever they will use I am sure it's not bitcoin, they will always keep safe using what the government tell them to use.
Paper money is very helpful to all people, that would make it stay and will continue to satisfy people with a simple and easy transaction using paper money.

[andrei56]

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?

I think the future of the paper money is secure. Cryptocurrencies will never replace and surpass the fiat currency. People are prefer to use fiat money than digital money.

Things are not so simple, people are not going to keep custom, if bitcoin or another cryptocurrency is better then people are going to begin to use it, that is just the way technology works, we had the telegraph then the telephone, then mobile phones and now we have smartphones.

[Chrisjay29]

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?

I guess Paper money will still exist,Paper money, credit cards and bitcoins are what i have today for my use in transactions. although maybe the value of transactions that happened not as much as a few years ago, the more progressive world where people continue to innovate to create things faster, practical and mobile. Bitcoin is another option as a means of payment.

[Joshapat]

The current transaction with paper money continues to decrease so that many countries plan to replace with digital money, in addition to easy to control the use of digital money is not destructive nature because paper money raw materials are paper that comes from trees.

[millgates]

There is no future for paper money, many countries are spend a lot of fund only for the maintenance of paper money. We should  moving forward by leave the conventional medium of exchange to the new one. We ahve to looking for the better currency than paper noney.

[Ipwich]

There is no future for paper money, many countries are spend a lot of fund only for the maintenance of paper money. We should  moving forward by leave the conventional medium of exchange to the new one. We ahve to looking for the better currency than paper noney.

It's not about the funds being use but the convenience in using it, if people will still use paper money then we can always expect that will
continue in the circulation, it's the majority will win in the end and we know majority are using paper money.

[BitcoinCommodor]

banknotes including fiat money managed by the government. if in appeal to cripto money very much different, because fiat money will get many rules from the government such as taxes. while crypto money will not be affected by the government.

This will happen yes, but in coming few years. If you talk about like few decades later, believe me bitcoin will be the super currency of the world and at that time, you will see the surpassing of bitcoin over these paper currencies. The coming near future is safe of paper money because bitcoin isn’t prevailed all around the globe. It is needed to be spread but that will definitely takes time.