Is cash no longer king

In a digital world, paper money is inconvenient to carry, costly to produce and increases transaction times. The question isn't if cash will become obsolete, but when. This article discusses how a cashless world will soon become a reality. In doing so, it cites a report from the Bank for International Settlements that states that bills and coins represent only 3 percent of the national economy in Sweden, 9 percent in the Eurozone and 7 percent in the United States. The article then details the changes to the economic and commercial infrastructure that accompany the trend away from cash. It overviews how a new generation of technology users, who are focused on convenience, are driving the conversion to a cashless society. For example, the creators of E-ZPass are exploring ways to use the transponders to pay for services other than tolls. Next, the article explains the slow evolution of becoming cashless and identifies barriers to the conversion, noting that the older portion of the population lags in technolog
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