Of course, there are many legitimate objections to this idea. Consumers should be allowed to make anonymous purchases if they wish. Not everyone has access to broadband and can afford it. An electric currency would be vulnerable to power outages, among other threats.

That hasn't stopped some countries from plowing ahead anyway. In Sweden, for instance, only 3% of transactions are made with actual cash.

As David Wolman, author of The End of Money has argued, though, keeping a certain amount of cash "on the margins" could ease the transition until a suitable digital substitute emerges that allows for the same anonymity and ease of use as cash.

Bitcoin seems to fit the bill. Maybe it will replace it as well.

Topics: Apple Pay, Bitcoin, Business, currency, dollars, mobile payments

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