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Originally Posted by SportingBD
Guys,
Do you think cash money will be replaced in the future? if so... what can replace it?
In 10-20 years time, do you still see cash money/transaction being used?
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Cash will still be around in 20 years.
I went to Japan not too long ago, and for a country that's so tech driven and receptive to new technology, it was incredible to see that cash was still the predominant way to make purchases. Even big purchases were made in cash. One of my japanese friends told me that even alot of people still get their salaries in cash (in nice envelopes received with typical japanese gratitute - ari gato gujaimas). Cash is just culturally ingrained.
Then you have China, where wechat mobile pay has completely taken over. Almost everyone uses wechat and it's very typical to just p2p payments for all daily purchases.
These two are the extremes - most countries probably fall somewhere in a spectrum between these 2.
As far as what could replace cash - most likely p2p payment platforms like wechat, venmo, etc. But i doubt cash will ever truly go away.