How much of that currency in circulation is actually physical cash. I've seen articles which indicate that it's only around 3-4% whereas 30 years ago it might have been 15-20%.
I don't want CBDCs anymore than you do but physical cash has been declining for a while & covid gave it extra impetus. Our retail sales which used to be between 30-40% cash are now lucky to get past 10%.
How much of that currency in circulation is actually physical cash. I've seen articles which indicate that it's only around 3-4% whereas 30 years ago it might have been 15-20%.
I don't want CBDCs anymore than you do but physical cash has been declining for a while & covid gave it extra impetus. Our retail sales which used to be between 30-40% cash are now lucky to get past 10%.