| Countries like India are so far ahead of the US in terms of digital transactions and it's a ridiculous game changer. India has eliminated something like a 2-4% drag on its economy by making digital money transfers and transactions almost completely free, while all US transactions pay a tax on the credit and debit cards they use. Someone with the equivalent of Venmo on their phone, can transfer money instantly, securely, and freely, to someone else with the equivalent of Zelle on their phone, even if the receiver doesn't have Venmo. Or to someone's bank account, or your vegetable vendor, or to make payments through a variety of applications. The removal of a physical dollar is a real concern. You know what would help to prevent that from happening? Protesting against any efforts to eliminate a physical dollar. Protesting alternatives that are genuinely beneficial because they may slippery slope their way into eliminating cash only serves to make it easier to eliminate cash. All that happens is that a whole bunch of people will complain about the creation of a digital dollar, because of their slippery slope fallacy about it leading to the elimination of physical cash, but what people will see is that the digital dollar was implemented, and none of the concerns came true, and serve to discredit these people. So when the government actually tries to eliminate physical cash, all the people basing their protests on a slippery slope fallacy have lost credibility and the number of credible voices protesting the actual problem of the elimination of the physical dollar is much reduced. |