This is old news. Paper cash already has diminished to something like 13% of all transactions. It is only a mainstay in "under the table" transactions and crime.
As for banking, there will continue to be a roll for credit extension agencies for years to come. The fractional reserve system of banking is both a source of great potential peril and great potential growth in the economy - our entire system of lending based on it. It extends all the way back to the Fed, which by law is empowered to create cash accounts out of thin air to redeem treasury notes from lending institutions.
Paper cash already a minimal part of economy (Score:2)
As for banking, there will continue to be a roll for credit extension agencies for years to come. The fractional reserve system of banking is both a source of great potential peril and great potential growth in the economy - our entire system of lending based on it. It extends all the way back to the Fed, which by law is empowered to create cash accounts out of thin air to redeem treasury notes from lending institutions.