Topic: The future of the paper money - page 2. (Read 416615 times)
in my opinion there are still many considerations to remove paper money, because it takes adjustment and introduction to replace the banknote. not only that but there must be introductions of new products to promote the replacement of paper money to the public. from now is the time to introduce digital currency products from bitcoin. the risk may be from the introduction of digital currency to the public, but it will take a long time to process it. I think the bitcoin goes into the investment category, and that's a big savings for us in the future.
Only the people of the government will decide on when the paper money exist. Most people didn't know how bitcoin works. But its all about future nothing's know what happen next, its possibly only.
One thing's for sure. Paper money will not be banned ever. People have access with virtual money but we know for a fact that not the entire population are participants in such transactions. Most of the population uses paper money as a medium of exchange that's why entirely eliminating the use of it will have a major impact to them and even to people that are using virtual money. If most of the people will not have the capacity to exchange something to buy something, if ever paper money is banned, they will never have the capability to do so. Without them transacting with the virtual money handlers, virtual money will not have value either. It will be useless.
i dont say its a capital revolution but paper money into 10 to 20 years will dissapear into developed countries no more printed money into bill notes or coins that its becoming digital and digital currency will not evolve much cause euro and dollar and yen are already digital soo the coin digital currencies must be off the bad markets to become more stable.
If we look at the history of money, in the initial days, there was no concept of money and only one type of good was exchanged for another type. Through the evolution of time, the concept of bond or agreement to pay the borrower in future came forward.This idea changed the way we exchange our services for another. Instead of directly being paid with equivalent amount of another substitute we were given paper notes which became the medium of exchange.
So going in this way, the future of paper money isn't very illustrious, cause it is very susceptible to damage by natural and man-made(e.g robbery or fake notes etc) causes. So I think the future money will be digital, where the concept of bearing liabilities would be the main theme without any real exchange of material stuffs of any kind...
So going in this way, the future of paper money isn't very illustrious, cause it is very susceptible to damage by natural and man-made(e.g robbery or fake notes etc) causes. So I think the future money will be digital, where the concept of bearing liabilities would be the main theme without any real exchange of material stuffs of any kind...
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?
From generation to generation our paper money still in the main mode and remain working by it's importance so i think theres no reason to replace the money in this world to any kind of cryptocurrency. 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 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.
Paper money is one of the identity of every country. It has a physical form that can be used to purchase/buy some product that does not require bitcoin as payment. And every country will always keep and use it though bitcoin is popular nowadays and many are now engaged in it. Paper money is here to stay.
It might be possible. The future of paper money isn't very illustrious because it is very susceptible to damage by natural and man-made causes (e.g robbery or fake notes etc). So I think the future money will be digital, where the concept of bearing liabilities would be the main theme without any real exchange of material stuffs of any kind.
I do not believe that the role of real money is stopped, but surely little by little it can coexist with the virtual currencies, both as alternatives.
I don't know why people want to replace paper money this fast. Digital isn't better and probably even worst than paper... any system can be hacked and economy of country will die.
The future of paper money will later in the future indeed disappear as you can see now you see also that the value is not even getting higher and that is the problem.
But it will be nice if Bitcoin is getting more popular and also more acceptable.
But it will be nice if Bitcoin is getting more popular and also more acceptable.
I think the paper money will remain at least for 10-15 years again. they can not face the fact that it is something they can not control.
the government is not interested in incorporating bitcoin.
Paper money will have of course a good future. There is no chance that it will disappear because a lot of people need it so that is really important.
Of course we can see that many people are going to use bitcoin, and that is quite good, but there are a lot of people that also need some paper money.
Of course we can see that many people are going to use bitcoin, and that is quite good, but there are a lot of people that also need some paper money.
modern financial markets are behaviourally and structurally different to anything that was previously conceptualised. It would have seemed impossible previously to assert that central banks would ever need to take interest rates below zero, but we exist at a time where that is possible and many argue necessary. “Paying a negative interest rate on currency, or on electronic reserves at the central bank, may seem barbaric to some…” writes Rogoff, “But it is arguably no more barbaric than inflation, which similarly reduces the real purchasing power of currency.” With any paper money in circulation, and no deflation wiggle-room, it becomes close to impossible for bank rates to (in reality) breach zero.
I'm sure the paper money is still there but it should be slightly shifted by tetknologi so do not rule out later if bitcoin can replace the role of banknotes
It will take a long time to for paper money to fade out completely. Most people, especially in some developing countries can't understand how digital money works. Privacy is also key in managing ones money digitally and thus people cannot operate their digital money by proxy. There has to be a less sophisticated, easy-to-use technology for Digital money so more and more people can embrace it.
Oh, I do not know the theory about how digital currency use blockchain technology can works is very hard to understand. A normal person like mecan still understand, why do the government and many developers can not understand this easily knowledge. The nature of blockchain showed all its features.
It will take a long time to for paper money to fade out completely. Most people, especially in some developing countries can't understand how digital money works. Privacy is also key in managing ones money digitally and thus people cannot operate their digital money by proxy. There has to be a less sophisticated, easy-to-use technology for Digital money so more and more people can embrace it.
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 it's not impossible to those cashless countries that they only using the digital currency as a best choice for mode of payments, but it's not easy to ban the paper money in the entire world. Maybe it will happen when all countries become united one. Digital currency and physical money are both important unless, it has an individual value remains. 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 future of paper money is expressed by the universal transition to non-cash settlements using the most modern technologies - first of all, contactless payment systems. Transition to the electronic transaction system will facilitate the disappearance of cash, which will make the financial system more open and safe.
Paper money will not have a good future. Paper money will die. You know what will happen with Bitcoin, Bitcoin will always exist. You can of course see now that Bitcoin is more used now, and that is good. you know Bitcoin will happen nexy real money.
With internet adaptation and people connecting with internet and network, I am believe that in the future people will using digital currency. I read on article that in china people already using digital money for daily use.
Sure no future for paper money, we must go greeen
Bitcoin will someday have a card like that. but the use of paper money will always be used, even if it becomes a bitcoin currency, I'm sure bitcoin in the form of paper money will definitely be made I know that the time and growing use of credit cards has grown tremendously
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