Some time ago I wrote about a Nielsen prediction that 90% of financial transactions would be cashless (digital) by the year 2020. Judging by the chart above it looks like they were on the money.
So what’s next? I’d expect coins to slowly vanish. Next will come notes. Both forms of cash will still exist in the future but they will be somewhat unusual outside of the black economy. Logically one would then expect paper bills (phone bills, bank statements and so on) to similarly verge on extinction. I’d also expect some regional digital currencies to emerge cumulating in a handful of Euro equivalents, or perhaps a single global digital currency.
Thanks to Andrew Crosthwaite for the killer chart by the way.