money (i.e. “cash”) is: 1) a

[phaster]

money (i.e. “cash”) is:

1) a store of value
2) unit of account, that is, provide a common base for prices
3) medium of exchange, something that people can use to buy and sell from one another

http://www.imf.org/external/pubs/ft/fandd/2012/09/basics.htm

what physical “cash” does is allow individuals w/out access to technology a way to participate in the global economy

picture being stuck in the middle of a jungle w/out a smart phone, then physical *CASH* is the only option that works…

one other down side to “a world without cash” is it will make NEGATIVE INTEREST RATES the norm!

as it stands cash/money can escape from regions like japan (which has a negative interest rate)

http://www.wsj.com/articles/japans-negative-rate-experiment-is-floundering-1460644639

to regions like the USA (which has an interest rate which is positive)

http://www.bankrate.com/finance/mortgages/current-interest-rates.aspx

now imagine that “money” is now only digital (so that central banks and governments can access ALL THE TIME), if this was the case the powers that be could NUDGE people to spend their hard earned money on stuff they might not need/want by devaluing digital curency (i.e. negative interest rates)

so if the world became “cashless” IMHO there would be lots of unintended consequences