FYI: Modern finance requires a lot of trust, and its digital future will demand still more. If, for example, electronic payments are to replace cash, people must be willing to believe that the bits of data traveling among phones, cards, terminals and blockchains actually represent something of value.
So will they be? Judging from their growing predilection for physical currency, maybe not.
At first glance, cash would appear to be on its way out. Sweden has almost eliminated its use for payments. In America, home of the almighty dollar, almost a third of the population gets through a typical week without using a single banknote. Businesses are experimenting with going cashless, hoping to speed up transactions, combat theft and create a safer environment for their employees.
Regards,
Ted
https://www.fa-mag.com/news/cash-isn-t-dead-yet-52292.html?print
