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Wall Street banks bullish for digital dollars is the next big disruptive driver: Economics


‘Cash is on the way of the dodo’

The advantage of cash is that it is a somewhat illusionary anonymous currency with a higher level of security than Bitcoin.

Ideally, the United States will provide public cash banking so that Americans can pay their national property and land taxes at public buildings and local post offices by using High-denomination notes without any of their personal expenses overseen by private corporations.

All these fintech apps monitor private transactions for those who split restaurant bills, etc. won’t really be more convenient than cash, if residents can deposit and withdraw cash for free at buildings public like the Post Office as they used to be.

However, the public cash bank is still compatible with the digital greenback system, which will later help the public sector transfer money and enforce reserve requirements.

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