Paper Bank Notes Likely to 'Decline', Become 'Less Useable' in Future, BoE Warned

Weighing in on the evolution of payments back in June, 2021, Victoria Cleland, Executive Director for Banking, Payments and Innovation of the Bank of England, stated that the world had moved on "from a time where cash was king," and insisted that digital money could, "contribute to faster, cheaper, and more efficient payments."