The future of the paper money

[concept2]

bitcoin might become popular and many people using bitcoin. but it will not make the peper money to be disappearing. paper money is always welcome This is not ancient fashion. but paper money has existed since time immemorial.

Paper money will never be eliminated because it's very useful and there is no risk when you are using it unlike
bitcoin where value is so volatile and anyone can lose money if he does not understand it's nature, crypto is quite difficult to comprehend for
people who does not really need to use it, there are digital money which is more safer, they can use it if they are satisfied with the centralized system.

sure paper money wont be eliminated as it is the original currency that people get used to.  bitcoin is just a digital currency and can only be used mainly for online purpose.  Both currencies have advantage and disadvantage , but overall , paper money is still the future currency that we will be using forever, no matter what happens.  bitcoin is just an alternative currency just like on credit cards and debit cards, theyv been only used in order to buy stuffs online.

Paper money will still exist and it will only get some improvements and maybe it might get into bitcoin so there will be collaboration between bitcoin and also paper money and we don't need to eliminate the paper money because they are useful in everyday life and also the easiest way in terms of mode of payment for small trades or exchanges.

There will never be a collaboration between bitcoin and paper money. You need to know that paper money is controlled by the government and they never like bitcoin or anything that decentralized. They prefer to control everything that they can. Citizens in their country need to follow the rules and laws and bitcoin can not survive in a specific country

[1714816452]

1714816452

[josephpogi]

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 the years, we have progressed from a cash-only to a hybrid-based system, transacting in both cash and some form of electronic payment. Today, an increasing proportion of payments are made electronically and the current technological revolution playing out in the payments space is only increasing our ability to live without cash on a day to day basis.
So, are we likely to see the end of paper money anytime soon?  No; not for the foreseeable future.
Apart from the necessary and significant investment in systems infrastructure, before even considering such an extreme policy, the political complexity of getting such a system set-up is overwhelming. If we consider the global monetary system, a cashless society would likely require international agreement and likely some regulatory authority to manage the global system.  In a world where political compromise is increasingly rare, and where the vast majority of transactions in emerging markets are conducted via cash, it seems unlikely an international accord will be struck any time soon.

[Shimmiry]

It's not wise or even more so, strategical to ban the use of paper money to make way for digital or virtual currencies. At the very least notnnow. Even though we are at the moment using electronic currencies to transact, we cannot hide the fact that we still are needing paper money. Give people some time, don't rush things. We will come to it eventually so let's just stay prepared.

[BitcoinPaw]

Paper money is our future at my opinion. Those money will be improved and will not dissapear at my opinion. It's very stupid when you making digital currency in your country than fails and than default.

[freedomgo]

Digital currencies are efficient and very attractive to a lot of people who are seeking freedom in terms of their money and transaction but we all know that this currencies cannot be approved by the government to replace the usual fiat or currency

But people are not yet educated with this system, I still believe it takes a longer period of time to educate them and in the future
it's gonna be digital currency which will be the trend, having said that, I also believe that paper money will still be very useful as majority will still be using it.

[doraegun]

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 would band entirely if ONE nation would hold us or keep  us for using one  only currenry for the entire nation which is BITCOIN. but if not? paper money would continue to serve to people unless there is a country it self making a self regulation to use only digital currency and ban totally for paper money.

If this gonna be happen I think they will make a good and safe regulation for their constituents for the better serving to people.

[tiga huruf]

Paper money will slowly die. This will take a long time and this is a remarkable progress, and right now some countries are already using more credit cards, etc. I think some other countries will also follow that goal to replace paper money in the future. Cryptocurrency also helps with that purpose. My biggest concern about digitizing our money is anonymity. Paper money is easy to use and anonymous because no one can track your spending. Many governments are interested in transparent citizens who can not hide anything so it's just a matter of time when paper money will die sooner or later.

[Royal Jelly]

Paper money will be banned entirely? it could happen.
Replacing the conventional money with bitcoin or the other is not something easy. It could have happened but it would take a long time maybe around 50 years. Because there are still many poor areas that are not familiar with technology and will definitely need a step slowly introducing the technology to the step of introducing bitcoin.

[martychubbs]

If bank made paper money that mean bank owner of that money and you country owner in that paper money which has printed that and it will not ever private one because they always could control that.

[whyrqa]

Paper money will be banned entirely? it could happen.
Replacing the conventional money with bitcoin or the other is not something easy. It could have happened but it would take a long time maybe around 50 years. Because there are still many poor areas that are not familiar with technology and will definitely need a step slowly introducing the technology to the step of introducing bitcoin.

perhaps paper money will come out of use, and replace them with Bitcoin. But you think how the children and the elderly will treat the crypto currency. It will be very difficult for them and this situation will create huge problems.

[Epimetheus]

Paper money will be banned entirely? it could happen.
Replacing the conventional money with bitcoin or the other is not something easy. It could have happened but it would take a long time maybe around 50 years. Because there are still many poor areas that are not familiar with technology and will definitely need a step slowly introducing the technology to the step of introducing bitcoin.

The future of paper money is fully safe and secured.The paper money is being used all over the world and people use paper money for the day to day transactions and other works.Paper money is centralised so the government amd the central banks take good care of paper money and does everything to maintain its power.Paper money does not require any internet connection to get operated and can be used anywhere anytime.Itcan be used by even an illiterate unlike cryptocurrencies which are highly complex and require internet.

[Sate Jamu]

Paper money was first used in China, it is unique nowadays the Chinese government plans to replace paper money with digital money, but I'm sure that whenever paper money will survive due to many considerations.

[Tukang Becak]

Paper money was first used in China, it is unique nowadays the Chinese government plans to replace paper money with digital money, but I'm sure that whenever paper money will survive due to many considerations.

Yes I agree, many people predict that paper money will disappear soon and be replaced with digital money or cryptocurrency, but I'm optimistic that any paper money will survive because paper money can be used for direct transactions.

[xxToaDxx]

Precisely, that's the rationale I settle for in spite of the actual fact that anon the pattern are on the online or advanced money nevertheless at a similar time larger a part of the final population Are utilizing paper money since it's less complicated and it's tough to instruct people to utilize on-line cash. This will simply provide U.S. another various for exchange and processed cash actually facilitate because the world is moving quickly of late.

[pluMmet]

The future of the paper money will still be good because the paper money can not be in a change by the digital currency, because of how where was the paper money will still be the most in interested in because it isn’t complicated for in can and everyone could find paper money without the need to buy a computer and smartphone not everyone was able to buy it

[geegaw]

The future of the paper money will still be good because the paper money can not be in a change by the digital currency, because of how where was the paper money will still be the most in interested in because it isn’t complicated for in can and everyone could find paper money without the need to buy a computer and smartphone not everyone was able to buy it

Paper money is still too suitable for this social stage because of simplicity, we do not need an intermediary devices in the transaction process, we can use directly with people quickly and conveniently, no class distinction and acceptable everywhere. However, things will grow and change over time, people will also be more modern, perhaps paper money will gradually be eliminated or reduced in number of users, this is necessary and must happen because society and life can not stop at one point, it needs to grow and move forward

[wowbit123]

The future of the paper money content our history so still we will use paper money to buy some goods stuff for ourselves, although many people use credit card for buying . They might have people content to use paper money as there prehistoric in our society.

[pluMmet]

The future of the paper money will still be good because the paper money can not be in a change by the digital currency, because of how where was the paper money will still be the most in interested in because it isn’t complicated for in can and everyone could find paper money without the need to buy a computer and smartphone not everyone was able to buy it

Paper money is still too suitable for this social stage because of simplicity, we do not need an intermediary devices in the transaction process, we can use directly with people quickly and conveniently, no class distinction and acceptable everywhere. However, things will grow and change over time, people will also be more modern, perhaps paper money will gradually be eliminated or reduced in number of users, this is necessary and must happen because society and life can not stop at one point, it needs to grow and move forward

Yes I understand it, but I think that the paper money would not be replaced because the paper money will be in use whenever and wherever without having to use the Internet network, perhaps digital currency indeed become the progress of an era but weakness and the risk of her big too, and the paper money tend to be safe in terms of the use of, perhaps the digital it will be more advanced but the use of paper money would still survive and will not ever be replaced because it hangs paper will always in received by all the of rich until the poor and I’m sure will it

[pisston]

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?

  Why it is necessary to replace the usual currency with bitcoin. I think if bitcoin will go in parallel with the usual money, nothing terrible will happen. In any country there is a currency, and if the bitcoin is added it will be excellent too. You can use both bitcoin and another currency.

[GamingBro]

I like paper money but understand that someday everything will change into digital when people develop systems that can't be hacked easily.