If we remove cash in Europe (EU), we would immediately get negative interest rates. Cash is also far more flexible. I pay most of my stuff digitally, but I will certainly keep my cash. It is a universal language and I am not dependent on shitty payment processors.
Also drugs, blackjack, hookers, betting... the sins of life require subtle channels. Not saying I do anything of this, but to disregard certain necessities is hopelessly naive.
In my country you wouldn't even be able to give 20$ to a workless friend on social security because the state would immediately freeze the money or substract it from the next payment.
"But I like to pay with my phone and it is so practical, I don't use any cash anymore." - yeah, you do that, buddy, right now it is a really good idea to do so.
Also drugs, blackjack, hookers, betting... the sins of life require subtle channels. Not saying I do anything of this, but to disregard certain necessities is hopelessly naive.
In my country you wouldn't even be able to give 20$ to a workless friend on social security because the state would immediately freeze the money or substract it from the next payment.
"But I like to pay with my phone and it is so practical, I don't use any cash anymore." - yeah, you do that, buddy, right now it is a really good idea to do so.