Is Money Going Digital? - A Brief Note About the Current Hype

Abstract

The current hype suggests the imminence of cashless societies. This idea comes from the worldwide popularization of digital financial services and from the development of technologies with potential application on financial markets. However, claims about the end of money in paper form are not a novelty. Instead of disruptive, the note argues that the money’s conversion from paper to bits has been a gradual adaptive process and claims that money is already digital. Moreover, the note come up with the idea of banknotes and e-money switching status on monetary authorities’ view.

Keywords: digital money, digital currency, e-money, digital financial services

JEL Classification: O3, L8, G21, E5