Yes, I expect within 15-20 years notes and coins will be dematerialized in many parts of the world. Already today I almost never use cash.
%% WELL congrats if Europe doesn't have those extremes. But WE sure don't blame the gov directly or indirectly, for personal decisions. We much prefer personal responsibility. We like gov guideline that are on every road; not micromanage. I would agree USA payday lenders do absurd lend %; but what about UK + USA lottery= a stupid tax on people that cant math?/LOL
What's wrong with using checks to pay someone? Just because something is instant doesn't always mean it's better.
Yes being subject to the whim of the government even more efficiently. And if everybody in the world adopts this, then everybody is subject to the Chinese government's whims. If tomorrow the government decides that your money in the digital yuan wallet is worth 0, you are instantly penniless. All the money that you have is GONE!! Imagine Warren Buffett becomes instantly penniless with a push of a key by the Chinese government. Would China love to have that! LOL
Think about that next time the pensioner in front of you at the supermarket checkout line reaches into her pocketbook for her checkbook to buy an apple.
%% Or maybe have the wrong chicom social score. I like the way in USA, they will not even outlaw pennies like they did in canada. Old timers get it right; beaver skins, bucks[ aka buckskins] silver coins, gold coins, stocks,ETFs metals blend coins, Fed Reserve notes. Long live THAT diversity
I don't need to think about it; I see it all the time. So? Still better than a pensioner who opens up those tiny purses/wallets and takes out 500 coins to pay for an apple.
You introduced the hyperloophole in the money system, nothing stopping governments to seize financial accounts. Forget about WB, he may not wake up tomorrow at his age, knock on wood. He had a great life.
the truth is we are envious about other countries’ digital transformation. the credit scores holding your balls and making your feel happy. 2-3% transaction fee adds to profits. btw, next time try unisex massage.
Yeah and now they can do it easier and much easier and even to citizens that they have no governing power over.