I think the point of this article is that central-bank issued cryptocurrencies are ineffective. If people have a choice between a free, open, permissionless system vs an opaque permissioned system where your assets can be controlled by a government, it is clear that they wouldn't choose the government coin -- unless forced.
Also, a lot of countries (not necessarily Japan) companies, and individuals cook the books, which is easiest when using cash. If every transaction were public, it would be much easier to expose shoddy accounting practice.
Lol criminals use drugs, cash, diamonds, art, weapons, metals, oil and humans as goods and money, crypto is great but when u have to come back into fiat ur fucked. Unless you can get cold hard cash, cashing out a good amount of money will get u on a radar.
Don't forget that the rich are also competent. Those who are rich through competency will remain rich when crypto is everywhere.
SuperNewkKarma CC: 1427 XLM: 416 VTC: -115 months ago
this is really interesting. Getting rid of cash would = impossible for Illegal immigrants to live in Developed countries, drug dealers abolished, tax revenue would increase because you would have to use a tracked digital currency vs trying to live off the grid with cash.
I know they tried to outlaw the 100 dollar bill..younger generation would like a cashless society