The future of the paper money

[Jeepney_koh]

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 never be banned and will just continue to exist. It is the most convenient way to pay and method of purchase and transaction. Likewise, it is the safest way to transact in the internet and even in physical environment. Publicly or privately, paper money is still the best option we have.

[BETnaBET]

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 when  bitcoin is officially used as a world currency, paper money is no more to used. Because bitcoin will be powerful to all the world and will be used to any kind of electronic transaction. Paper money will not be used any more because will be the high tech money to all over the world. I think majority of the people will agree on this do easy transaction.

[genset88]

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 has been around for a long time and has been accepted by many as an indispensable currency, but now technology has grown, and paper money is being used in the community. Electronic coins will replace this paper currency.

[kuckong]

I think the paper money will still exist until the next decades because there are still many people who do not know about cryptocurrency. Only some countries that use cryptocurrency as a means of payment. So I think paper money will still be there until several years ahead.

[Samk]

THE FUTURE OF THE PAPER MONEY IS NOT SO BRIGHT. I THINK IT WILL BE REPLACE BY THE DIGITAL CURRENCY.

[jaredl]

there will not be any paper money in the future as we all move to digital money or crypto currency.

Paper money is a waste of resources as paper money is printed and move in and out of circulation, resulting in printing of paper money.

When we move to digital or crypto, money as we know it will be just a number on a ledger (decentralised..or centrally controlled)

and transaction will only be thru digital means.

[Thamon]

The future of paper money today seems absolutely is impossible in the new global economy, based solely on information and by grapila.

[ewonardo]

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 never be banned and will just continue to exist. It is the most convenient way to pay and method of purchase and transaction. Likewise, it is the safest way to transact in the internet and even in physical environment. Publicly or privately, paper money is still the best option we have.

I agree Paper money is more better to be use for transaction because we don't need to do it online, we can transact
very simple and fast, of course paper money is still the best option we have. So paper money is still will be life forever.

[m9shn9sh]

I think that with the time paper money will disappear. Appearance of plastic cards was the first step toward creation digital financial system for ordinary people. Now we meet with the digital money which can be provided without banks.

[Semar Mesem]

I am sure that paper money will continue to be used and will never disappear, the main reason is that paper money transactions do not require internet network, and paper money can be used by everyone even the blind, the beggar or the fool.

[Ondre]

I think with plenty of crypto currencies now listed in the market cap and our world is toward digital technology, most likely that paper money will extinct.  But , not in the next 2-10 years i think. that will be possible when internet everywhere are accessible freely, digital money are operated digitally.

[rolerVX]

The future of paper money is not yet sure if we relate cryptocurrency to the system of paper money. Fiat is fundamentals for cryptocurrency introduction to banks and other establishments. If that will accomplish through the years of this era then crypto is really amazing and very promising to the highest level. The future is at hand in this moment if the politicians push this way. Then it will easier to accept by the people around the world.

[Zekia1]

I dont know how long it will take to move to the cashless society, but i believe the current printed money wont last more then 70 years from now. If they keep it the way it would be a signal of world's degradation.

[myanti55]

 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.What I feel that governments simply aren't interested in incorporating bitcoin. they can't deal with the fact that it is something they can't control. paper money will stay at least for another 10-20 years.Yes, it is true. Most of the governments will like to control currency and want to track all the transactions who has done what to protect the system. So as of now, this is not possible in bitcoins because they can only trace the transactions but very difficult to find out who has done the transactions so paper or fiat money will be there forever.

[Pinoyfan]

Paper currency will eventually die off, due to the fundamentals of the system.

Paper money will be banned entirely? Not banned, but it'll collapse eventually.
How long do you think that happens?
would it work? Yes, with BTC.
What security and privacy risks would it raise? Not really. As paper currency is itself irreversible and anonymous.
And how would public and privately issued monies interact? I doubt we'll go back to the system with many private banks that issue their own promissory notes. Bitcoin is the perfect answer to this problem.

[not-a-bot]

As I said on a neighbour thread, it's not about crypto Vs paper money. It is about crypto Vs centralised bank system and digital currency like Visa, Amex etc.
As long as we are human race we will always need Paper money or gold, or platinum or something else what we can hold with our hands without on-line services or spending an energy power for it's existance.
Imagine what happens if most part of greatest Internet data centers become off-line for some reasons. Where are your crypto or digital money ? How could you get them back?

[terrong]

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 never be banned and will just continue to exist. It is the most convenient way to pay and method of purchase and transaction. Likewise, it is the safest way to transact in the internet and even in physical environment. Publicly or privately, paper money is still the best option we have.

I agree Paper money is more better to be use for transaction because we don't need to do it online, we can transact
very simple and fast, of course paper money is still the best option we have. So paper money is still will be life forever.

I also believe that paper money will continue to be used in various countries because the country has their own currency and that identity is always used in every country

[Nyenyepogi]

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 more I look at the future, the more I see a brighter future for paper money. We shall reach a point where people will be fed up being tracked and traced all the time. And the only way against that mass surveillance warfare is to use cash. Cash is also a nice option to save money because of falling interest rates. They're already negative in some countries!

[Sled]

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 never be banned and will just continue to exist. It is the most convenient way to pay and method of purchase and transaction. Likewise, it is the safest way to transact in the internet and even in physical environment. Publicly or privately, paper money is still the best option we have.

I agree Paper money is more better to be use for transaction because we don't need to do it online, we can transact
very simple and fast, of course paper money is still the best option we have. So paper money is still will be life forever.

I also believe that paper money will continue to be used in various countries because the country has their own currency and that identity is always used in every country

Paper money will be always used in different countries because that is how the people get used to do transactions and also in exchange of some items or services to their money. Paper money is already here for a very long time and it will not disappear just because of the coins or cryptocurrencies that showed up because paper money is still strong because it is supported by the government.

[imking]

THE FUTURE OF THE PAPER MONEY IS NOT SO BRIGHT. I THINK IT WILL BE REPLACE BY THE DIGITAL CURRENCY.

The paper money has their reputation and value. The paper money will stay forever in this world it will not disappear even we have credit or debit card or digital currency. On this world there someplace that poor on modern technology. I don't hate crypto I just say that paper money has an excellent purpose in this world.