That would be a long years to happen because I don't think government will be in favor of having a money that they cannot control. Because when this happens it will lessen their power. But for me, I am excited and I am looking forward to replace paper money by digital currency. Since we are now in the era of online payment system, cashless society. I think people will also enjoy this.
You are right now the people are using the crypto currency and a lot of the people are having trust on the bitcoin and they are paying with the bitcoin I hope this will increase the value of the bitcoin, I can see the bitcoin will help a lot of the people will be the part of the bitcoin I hope this will increase the value of the bitcoin for the long time so the investment for the long time I hope this will be the part of the bitcoin. 
Topic: The future of the paper money - page 56. (Read 416603 times)
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 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?
This is definitely not bitcoin, How will a crypto currency be backed by a state currency. This only means that it will be a centralized crypto currency I don't think it will be accepted by people.
Paper money will disappear anyway. With bitcoin or with any other digital currency. It is the law of evolution. Traditional currencies and the economy based on them demand reforms because they got rid of the opportunities and are not in time behind the current rate of development of digital economy. Sweden is going to pass completely to non-cash payments by 2025. I think, other countries will strongly not lag behind Sweden
The paper moneys will not get replaced by the digital currencies like cryptocurrencies because the one thing that i am sure about is, it will evolved, yes that is right. With the newest inventions and technologies then they can get an idea that can help them to improve the current system of the paper money and with that idea they can create or make the paper money evolve for adapting the new system which is being an online currency.
Paper money will disappear anyway. With bitcoin or with any other digital currency. It is the law of evolution. Traditional currencies and the economy based on them demand reforms because they got rid of the opportunities and are not in time behind the current rate of development of digital economy. Sweden is going to pass completely to non-cash payments by 2025. I think, other countries will strongly not lag behind Sweden
Depend on the current world technology. I think the money is not extinction, internet based coins will be in the market as well as Bitcoin and other coins. However, how long it will stay will not be on the demand of the people.
Since I am just a newbie in this industry, my opinion in this matter there is a possibility that the future of the paper money will be gone in the near future, we just don't know when will it happen. But I am sure about it, where the fiat can be replace by the virtual or digital currency. But this is just my perception only anyone are free to criticize me about this answer of mine. Good day 
paper money won't disappear...the government can't control the people...it will ruin the world economy...it is unrealistic in my opinion
investing in bitcoin isn't a necessity but investing in bitcoin are individuals who believethat later bitcoin continuously increase which makes those who believe to become untunh
Paper income will be in use what ever means of transactions as effectively currencies exist, Paper income is in use from the early days of human existence.
If it's something made by the government or by banks then you should definitly know that it won't be private and they will have control of everything just like the banks right , nothing much will change .
and for what comes to the Paper money I don't think it will dissapaear , maybe on some countries yes but worldwide ?definitly not because some countries don't even use Credit cards for their transactions so ... yep
yes you are right, and besides if government took part in bitcoins that will be the chance of the government to control bitcoins therefore we are to expect more hassle in using bitcoins and might be the downfall of crypto currencies. paper money though will still exist through out the world since most of the people preferred to use paper money especially the older ones. and for what comes to the Paper money I don't think it will dissapaear , maybe on some countries yes but worldwide ?definitly not because some countries don't even use Credit cards for their transactions so ... yep
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?
Maybe paper money will be stable for the future but also digital currency will implement to other people who are in knowledge to use mobile and gadgets but the people who are lack of knowledge in technology will stay remain to use paper money for their easy shop and buying what their needs.But I know someday cryptocurrency will replaced worldwide and being cashless society for good. 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?
We are definitely part of upcoming financial revolution. Paper money will be replaced by cryptocurrencies soon. Personally, I thought that we would switch completely to cashless transactions and pay with credit or debit cards. Now, paying with smartphone becomes more and more popular so in the end it might be not that difficult to convince people to cryptocurrencies.
Document money will still lived in and will also be utilized by people around the world,people living in places that internet isn't able will use paper cash and will not use bitcoin.
That would be a long years to happen because I don't think government will be in favor of having a money that they cannot control. Because when this happens it will lessen their power. But for me, I am excited and I am looking forward to replace paper money by digital currency. Since we are now in the era of online payment system, cashless society. I think people will also enjoy this.
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 future of paper money is also bright because it will remain in future as well as because non educated peoples and the people's without these electricity and electrical gadget facility they can not use these virtual money in their day to day lives so i think paper money remain in existence in future also we cannot remove the existence of paper money and probably on this forum many people are here too earn virtual money and then they convert it into paper money for day to day works or for their necessary things. 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?
nah, paper money wont gonna disapear anytime soon - to mutch ppl wont gonna be able to adapt to it yet. Look on eldery ppl who are still keeping they money wher they can see it - they wuld never be able to switch to "virtual" money. I think that we need 2-3 moar generation befor we gonna be able to switch out of paper money.
I am sure that the future of paper money will continue to survive, this is because paper money is a legal currency that is fully protected by regulations in any country.
Paper money will be here although the government will create its own digital currency. They will protect the interest of the many so they will not allow for paper money to disapear, there will be more option in the future but for sure
paper money will continue to exist.
I am sure that the future of paper money will continue to survive, this is because paper money is a legal currency that is fully protected by regulations in any country.
completely paper money will not go away, this process is very slow, especially in the underdeveloped countries. in my own way exactly in 100 years)
With technology everything can be fast, now many studies to use digital money, and I think no more than 50 years paper money will disappear, and with bitcoin seems to be faster.
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?
This may not work. Paper money may not be banned entirely, but most people may used the favorable digital money. Paper money is also important in case there is a power trouble or internet problem, if there were no electricity at the moment you are transacting using digital money, we need the paper money instead. So this ban of paper money may not be happen for this is so important also for other factors. 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?
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