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Cash ‘on the Verge of Collapse’ While Bitcoin Transactions Near Record Highs

Ben Brown
Updated
Cash is dying and  could go extinct over the next decade, paving the way for digital and cryptocurrencies. | Source: Shutterstock
Cash is dying and could go extinct over the next decade, paving the way for digital and cryptocurrencies. | Source: Shutterstock

A new report claims that cash is “on the verge of collapse” in the UK, with cash transactions expected to almost vanish in the next decade.

Meanwhile, bitcoin transaction volume is surging towards an all-time high and mainstream vendors like Starbucks and Krogers are considering methods of cryptocurrency payments.

The outdated cash infrastructure is set to be eclipsed. And bitcoin is positioning itself to replace it.

Cash Is “on the Verge of Collapse”

The UK report, titled Access to Cash Review, says the country’s cash system will become almost obsolete in the next 15 years. It comes as digital payments overtook cash for the first time in the UK last year.

Read the full story on CCN.com.