Will you ever live in a world without banknotes and coins?

Technology has changed the way people can spend their money and deal with their banks, so it might be tempting to imagine that everyone will use electronic devices such as their phones for all transactions in the near future.

The end of physical currency seems unlikely for several reasons.

People have developed a compelling relationship with money. Many people also feel more secure being able to see, touch and store their money. While digital banking has increased rapidly, cash remains the most popular way of buying things globally.

New technology has led to virtual currencies such as Bitcoin, which do not use notes or coins. Non-fungible Tokens (NFTs) and Blockchain technology are other examples of how technology changes the way we buy and sell things.