The future of the paper money

[richmcrich]

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.

Many people complain about the use Bitcoin. But when they know the real benefits of Bitcoin they become fan of it. The Bitcoin is the only crypto currency which got the level of popularity. That’s all because of its unique qualities. Bitcoin has many advantages over the paper money. There is no any fear of theft of Bitcoin as compare to paper money. We need to help of banks to save our money.

This is what it is happening all over the world, people that were against bitcoin are realizing the amazing currency that is bitcoin and they are beginning to adopt it, it is not going to be long before bitcoin becomes adopted by a huge amount of people and we will be able to use it in our everyday lives.

The usage of paper money has tremendously decreased by now especially in developed countries where plastic money was very common before the invention of crypto currencies. People feel burdened when they have to carry cash with them all the time.

There are maximum chances of getting robbed when you are having cash with you but this is not seen with bitcoin. Bitcoin is having very clear edge over cash.

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[yacare]

In my opinion use of paper money will go to considerable decrease. The cryptocurrency is the ideal tool on their replacement. However time hasnt come completely to replace yet. it will be smooth process within many years.

[intoy_victor]

For my understanding the future of paper money maybe will decrease in the future. But paper money will never be gone. Its only decreasing because we have a new generation that money will be always money even if it visual or crypto currencies.

[hamdun]

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?

Over time the paper money will be abandoned and switch to krypto money. but not for now. Because some people still use paper money as a mandatory standard to conduct transactions.

[GREATLOVE]

I think if the big countries already supported bitcoin then I would say that bitcoin will be the king and the paper money will ends.

[won99]

I think that the future of the paper money. Maybe in the future, we can do transaction with bitcoin. Just wait for many time. Notice, be patient guys

[zakcooper40]

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 believe that coming virtual currencies like Bitcoin will dominate the market in many developed countries, the future of paper money is very dim, I'm not sure that many years it will die, but it will be done. faded by virtual currency development

[agirlbtw]

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?

Paper money is a popular currency today, and it is unlikely that virtual money will pass through paper money as a common currency. The future of virtual money is much broader than paper money, no more social paper money is a thing not far

[Best Dreams]

The future of paper money will continue to survive until whenever, not all things can be eliminated, the current example is a book from the paper can still survive though whitepaper easier to use.

Everything has importance by its own place and paper money have also respect and value by its own place because when there was no concept of bitcoin in market so everyone they were using a paper money and it help them a lot but now a days everything is going digital so bitcoin is also one of the example of it and it make life easy of people because it provide a lot of opportunity for earning and people are taking advantage’s from it.

[voztata]

I don't think that the paper money will be banned entirely as i feel it as something foolish even if some of the government are trying to implement complete digital currency i don't feel they will ban paper money as it will affect the people in low class society.

What is being banned entirely? It will never be banned. They are very important. Paper money is the real money, not even digital money’s. Digital money is just a copy of the real money (paper money) into electronics so that they be easy to use for distant and close transaction. So they can’t be banned.

[Botnake]

I don't think that the paper money will be banned entirely as i feel it as something foolish even if some of the government are trying to implement complete digital currency i don't feel they will ban paper money as it will affect the people in low class society.

What is being banned entirely? It will never be banned. They are very important. Paper money is the real money, not even digital money’s. Digital money is just a copy of the real money (paper money) into electronics so that they be easy to use for distant and close transaction. So they can’t be banned.

And I think it is more convenient for the  masses to use paper money instead of digital money.
Digital money is just an upgrade but our freedom to use paper money should not be taken from, instead that should only give us an option to choose
which to use.

[cloudbleron18]

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?

Well paper money is one of the popular currency all over the world, but, it can't be easily banned , bitcoin is an electronic money , yes it is easy to use it but paper money cant easily banned.

[Sengoko]

I think the future of paper money will last. because most people use digital currency as a sale and purchase transaction. perhaps the use of fiat money is too difficult and impractical. it takes a lot of space to save the money. unlike digital money that takes a little space and is easy to use

Digital currencies and cryptocurrencies are the thing so coming future indeed, with the inception of e-Commerce, the significance of digital currency increased. Similar phenomena will take place in case of cryptocurrencies when organizations start to adopt them as a source of daily transactions. However, it is wrong to day that hard currency will be diminished, they will remain the part of process.

Paper money has been there for centuries and it is very hard to replace it forever or make it disappear from earth completely because all people are not living in developed states or not all of people are equally educated. There are many people even living in the most developed states of the world who are illiterate. These people cannot deal in bitcoin or any other digital currency. For them, we do need paper money in system along with bitcoin.

[lampukoe lumo]

future paper money !! paper money in the future will still exist because not everyone in this world can use paper money, in this world there is still a child who does not know digital money or adults who do not understand digital money so if I think the paper money in the future will remain and remain popular in the world.

[Jose Rizal]

I like paper money. I like to feel the buying power in my hands :p Bitcoin makes me feel like a robot. I am not saying paper money is better tho.

Well yes you have the point if cash will be extinct I think we are not able to handle technology based method of payment, transaction, and investments cause I think people will manipulate it and it is very prone for hacking.

[lyledark10]

For my understanding the future of paper money maybe will decrease in the future. But paper money will never be gone. Its only decreasing because we have a new generation that money will be always money even if it visual or crypto currencies.

Yes physical money or paper money will decreases but it will stay as a money because there is no store that receives bitcoin.

In someway paper moner will increase. Why?
Because your bitcoins will be transfer to dollars ($).

[andrei56]

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.

Eventually,  there will be no paper in the world at all, there is no future whatsoever when it comes to paper money and everything will be digital, I will not be surprised if countries start making their own cryptocurrencies.

I agree in spirit with what you said but at the same time we need to recognize the limitations of digital currencies, you need a big infrastructure to make digital currencies work, cash in the other hand only needs some printers so it is easy to see why paper money is going to be around for a long time.

[boksoon]

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?

Paper money will totaly out  if all country using bitcoin to use cashless payment but when did it happen, in fact here in the Philippines the number one problem is internet speed not only that many of the urban area here in the Philippines have no longer experience about bitcoin

[Tungsten-1]

I don't think that the paper money will be banned entirely as i feel it as something foolish even if some of the government are trying to implement complete digital currency i don't feel they will ban paper money as it will affect the people in low class society.

What is being banned entirely? It will never be banned. They are very important. Paper money is the real money, not even digital money’s. Digital money is just a copy of the real money (paper money) into electronics so that they be easy to use for distant and close transaction. So they can’t be banned.

Paper money is being used by the people living in this world since centuries we can never eliminate the usage of paper money from this entire world. There is no way that all the people who are living in this world will agree on using digital currency. Though digital currencies are quite helpful and beneficial, but their introduction to this world can only reduce the usage of paper money but cannot eliminate it.

[Gracechen17]

I'm not sure paper money will be banned totally. will be used less maybe but will not be totally removed from our daily lives. People maybe using cards, credit and debit cards and bank notes but money will not be replaced by cryptocurrency i think. But however will it be in the future no one really knows.