Like all logical extrapolations, the argument that cash will disappear contains a number of critical assumptions. One is that people will trust digital transactions and exchange as much as – or more than – physical money.

In Greece, where I’ve been for the past week, 95% of transactions were in cash. Last time I was there it was almost all plastic. This was not because people were trying to avoid tax, but because people didn’t trust other forms of payment or credit arrangements.

In other words, any prediction is scenario dependent.