Will Physical currency become obsolete in the future ?

1. Evaluation of why cash may dissapear

1.1. Cash may not end as lower income groups of people may rely on the use of cash as they don't have access to bank accounts

1.2. Just because countries like India and Sweden are aiming to become cashless societies does not mean other countries are.

2. Arguments why cash will exist in the future ?

2.1. Cash circulation in the USA grew by 42% between 2007 and 2012

2.2. There is no alternative to cash, digital cash does not have all the features of cash, e.g. cash is untraceable and can always be used. If there is problem with the banking system people may not be able to access there money cash doesn't have this problem.

2.3. A report said around 2/3rd of cash held in American dollars exists outside the country. Even if the USA doesn't use cash other countries still rely on it.

2.4. Eric Uhlmann study shows digital cash is more likely to lie, a cashless society could make more people lie.

3. Evaluation of why cash will exist in the future

3.1. Countries all over the world seem to be moving to digital cash e.g. LICs like Kenya MICs like India and HICs like the UK

3.2. Digital cash is still a new concept and is still growing just because it currently can't copy all the features of cash right now doesn't mean it won't be able to copy it's features in the future

4. Introduction

4.1. Explanation on the definition of the words cash and digital cash

4.2. Explain what is meant by a cashless soceity

4.3. Go over the increase in the amount of services which people can use instead of cash e.g. electronic banking, contact less payments and digital wallets.

4.4. Explain the benefits of cashless society e.g. it would make the informal sector shrink, but it would also be bad as people lose there privacy on what they buy.

5. Arguments why people think Cash will dissapear in the future

5.1. Countries like India are aiming to become cashless societies

5.2. India banned the use of the 500 and 1000 rupee, meaning many people move to service called Paytm which allows people to may for goods and services using there phone.

5.3. Sweden is aiming to become a cashless society, you cannot buy tickets on the Stockholm metro with cash.

5.4. Around 2 % of all payments made in Sweden in 2015 were used with cash.

6. Conclusion

6.1. Come to final viewpoint if whether I think cash will exist in the future.

6.2. Look at whether I think cash will exist in 5 years in the short run, and look at weather I think cash will exist in around 50 years in the long run.

6.3. There is a trend for things to go digital e.g. mail and cds have gone digital. Many people use email instead of mail today. This may happen with cash.