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"And physical cash has no real value in itself.
After all, investors can hold physical cash as an alternative.
(Holding physical cash is impractical, given the sums involved).
No physical cash has changed hands: all that's happened is a transfer of digital information.
The dominance of physical cash as an instrument of exchange is dwindling fast.
HSBC transferred $19bn£12bnbn) for Iran, $7bn in physical cash for Mexico.
Electronic cash, stored on memory-cards, PCs and other devices, could replace physical cash.
Today, however, we pay out physical cash less and less often.
So, why not eliminate the use of physical cash worldwide — not just a "cashless battlefield" but a "cashless economy"?
Similar(2)
Yet some of the most daunting challenges lie in the sheer physical volume of cash involved.
A little-known group (which prefers to be low-profile) called the Note Circulation Scheme (NCS) handles the physical distribution of cash notes in the UK.
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