Central Bank Digital Currency: An Argument For A Cashless Society?

Since its inception society always relied on trade. Initially by exchanging goods, then it was by using gold, silver or copper, sometimes even paying by salt, until pennies and paper came into circulation, with the earliest forms of currencies and money coming into use along with the establishment of central banks. Very recently, new mediums of exchange including a totally decentralised Bitcoin and projects, like for example a centralised Libra Coin, have also emerged. This however did not alter the officially recognised categorisation of money as yet. There are three existing types of money which can be distinguished as follows:

• Cash is the only recognised legal tender and is issued by the central bank;