The future of the paper money

[turagsoy123456]

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 not abolished.. Because not all country's are rich. There are many country's also who has many poor population.but maybe in the other rich country  the future of the paper money will be no longer to exist.

[1714931547]

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[1714931547]

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[Kisanaq]

The future of paper money is increasingly difficult, as we know that today many countries try to use digital money to reduce cash transactions that are usually with paper money.

[MAJICOIN]

Paper money is used for different things for which digital money is not accepted in the different regions of the world. Paper money will be used in the future as well like in the past every where the dealing would be in the paper money after than the electronic money came into the market banks has involved they were used as medium of payments the paper money ever used in the world the future of paper money is secure.

[fabrizoc]

In the future all will gonna be digital, and it is pretty bad for paper money.
But not now because still a lot of people who are not that intellectual to using digital thing even many poor countries still do not have internet access.

Absolute right and authentic. This is going to happen and people will be testifying it in future. As everyone knows this is a time of digital things but still much is more to do for this advancement to be prevailed all around the world. But yes, we are progressing in about everything and a time comes when everything will be digital and that would be time of bitcoins.

[HV3S]

It's been so many years and yet under 20 million people heard about Bitcoin or used it. However, it'll take way less time for the number to double because of the pyramidal scheme.
the more people there are interested in it, the more people will hear about it. Yes, we gotta make Bitcoin heard about but that will take a few more years.
However, when it'll become a big thing, governments will do something about it.

[Md.Sufian]

In my opinion . the paper money will not be in the future . The people of the world are being able to contribute a lot through online transactions .

[hy1267055]

In China, majority people are confortable on mobile transaction in rmb. cryptocurrency is possible to replace existing currency, it might take a long time. I do think paper money is unnecessary. However for now, there are ways to avoid paper money without crypto.

[Ewinsane]

In my opinion . the paper money will not be in the future . The people of the world are being able to contribute a lot through online transactions .

Who the heck is even Andrew Heldane, and who cares about what he says? Nobody. And by the way, you should think before commenting anything. How do you think that people will stop using paper, how is that possible. It’s just like saying that poverty will one day end in the world. The use of paper money will continue, and Bitcoin can’t replace anything.

[UNOE]

most people prefer to use credit and debit cards to shop around. you can already see signs of this at other currency's like the euro its getting a lot more used these days online.  I don't know how much gold will cost in dollar terms in 10 years (and no one knows), so it may happen that it will cost even less than it does now. But it is ultimately irrelevant since your reasoning still doesn't allow to distinguish in any meaningful way the paper money backed up by the merchants,

Of course, i'ts because it is alot easier and requires less time....since we all get paychecks on our bank account rather then cash only. And also picking cash up from some atm-s or even transfering to another currency also costs so people just go for a swipe and thats it.
But it's just because people are stupid, they are paying banks for usage, intrests and everything

[UNOE]

Who the heck is even Andrew Heldane, and who cares about what he says? Nobody. And by the way, you should think before commenting anything. How do you think that people will stop using paper, how is that possible. It’s just like saying that poverty will one day end in the world. The use of paper money will continue, and Bitcoin can’t replace anything.

Okayy hahahaha or just listen to what this guy says because this is the best answer i have seen in a long time hahahah +1 mate

[Tabanta]

It's been so many years and yet under 20 million people heard about Bitcoin or used it.

Can't believe this, what's the source? Seems ridiculously low to me.

[todiefor17]

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.

Currently, paper money in my country is less used than before by virtual currency technology. You can go to the supermarket without buying any paper currency because you will be paid for the items by bank transfer, I think that the paper money will no longer be used in the future

[gandhe83]

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.

Currently, paper money in my country is less used than before by virtual currency technology. You can go to the supermarket without buying any paper currency because you will be paid for the items by bank transfer, I think that the paper money will no longer be used in the future

In the future, the use of mathematical algorithms will become more common and paper money will be less used because it is no longer appropriate. Paper money will only be used for retail sales with low value items not through transactions with banks. Although cash has existed for a long time, it has gradually revealed its weaknesses and algorithms have done so well.

[selen]

hard to imagine how the gov will manage supply with two currencies on hand and.. probably many other private coins in circulation. something shall dominate and the other be restricted somehow. crypto shall finally pick up the lead. within 5-10 years i think ))   

[Bonsaiav]

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?

According to my calculations, the paper money will forever survive, because the supply of paper money to date is always sufficient for human needs in the world. While, bitcoin has a limited supply of only about 21.000.000 pieces. Mathematically, bitcoin will not be able to offset the world's human population.

[torch2121]

For me I want the paper money to stay the same or not banned. Because I want it to make a secret that I have a Bitcoin account.  were I exchange my Bitcoin for paper money for purchasing goods. Low profile type. 

[Fbo62]

I don't know why paper money didn't die yet and goverments use crypto. Bitcoin and other cryptos are impossible to print. It is just like a dollar, a euro is worth let just say 1 dollar and and usd is worth 2 dollars, same as  bitcoin but it just rises quicker.

[mx667]

I don't know why paper money didn't die yet and goverments use crypto. Bitcoin and other cryptos are impossible to print. It is just like a dollar, a euro is worth let just say 1 dollar and and usd is worth 2 dollars, same as  bitcoin but it just rises quicker.

I think there are so many topics like this and people are beginning to talk about cashless society. Maybe in the future, people living in the modern city will leave cash and switch to cashless. But you should know that there are still people who transact using cash in small countries and poor countries where their people still live in villages and traditional markets. You must understand what I mean, that cash will never disappear from their lives. Not everyone knows computers, not everyone can use technology. All modern life and the development of the times can only be felt for us who live in the city. Including cryptocurrency world.

[King Sastro]

It seems that the future of paper money will disappear soon, the successor is digital money and cryptocurrency, besides the difficult problem of being controlled, paper money will cost big manufacture and maintenance.

[neerv]

To me, this is not even a question. Paper money has already started dying and has no future. Even if we let aside cryptocurrencies, even the regular fiat has come into the digital mode entirely, with mobile app wallets making the transaction of money a lot easier compared to paper money transactions!