Have to correct your nitpick. What you're talking about is currency not money. Not being legal tender doesn't mean it's not money. The majority of money sits as electronic entries in each country's central bank. https://www.investopedia.com/terms/c/currency.asp#:~:text=Th....
True. I'm talking about private bank books, the kind of "electronic money" regular people use, which I assume is what the comment above referred to. Since only financial institutions have access to central bank accounts.