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In order for money to function well as a medium of exchange, store of value, or unit of account, it must possess six characteristics: divisi- ble, portable, acceptable, scarce, durable, and stable in value.

It's worth noting that the central bank has yet to commit to creating a CBDC in the first place, so the final form of a digital dollar system remains an open issue. Presently the Fed is studying how a digital dollar could help expand consumer access to the financial system and support faster and cheaper payments.

As people move toward more electronic or digital forms of payment, it might seem like paper money is on its way toward obsolescence. But experts say that cash will always be around.

CBDC may replace the paper version of the U.S. dollar. At the same time, society may focus on mainstream adoption of a decentralized cryptocurrency.?

As people move toward more electronic or digital forms of payment, it might seem like paper money is on its way toward obsolescence. But experts say that cash will always be around.

Not only does the Fed have no plans to issue a digital currency, but it has repeatedly said it wouldn't do so without authorization from Congress. How one might work?including how closely it might imitate physical cash?is still a wide-open question that can only be answered through research and testing.

We have been issuing banknotes for over 300 years and make sure the banknotes we all use are of high quality. While the future demand for cash is uncertain, it is unlikely that cash will die out any time soon.