Over the years we have heard and seen many people warning of the coming cashless society. Religious groups have been warming people about the “mark of the beast” for ages. It has always been something that was considered to be in the distant future, but not anymore!
BA International, a banknote printing operation in Ottawa owned by Giesecke & Devrient in Germany, stopped printing currency (including Canadian) as of January 1 2013. You read that right! As of January first, no more Canadian currency is being printed. Source
Why have they stopped? According to BA International it is due to a decrease in demand for new bills, thanks to the new plastic currencies longer life expectancy.
Are the plastic bill so good that we simply do not need to print anymore money?
In a short answer, of course not! Take a look at the multiple cases of the plastic $100 dollar bills melting.
When the federal government was asked by the Canadian press (in a FIOA request) about the bills melting. They basically refused to give any information, citing national security concerns. Source
Can the plastic bills still be lost? Get damaged? Of course. So the idea of them being so great that we don’t need to print anymore currency is absurd! The real agenda is a cashless future.
According to a poll conducted by Paypal Canada. 56% of Canadians would prefer using a digital wallet then cash already. Source
With acceptance numbers above the 50% mark, the Royal Canadian Mint has begun to slowly release the Mintchip.
The concept of digital currency will slowly be advanced over the coming years, while the physical money supply diminishes. Leaving our future generation with a low supply of physical cash, and an abundance of technology for digital currency. To them it will only make sense to make the move to digital, because it will be all they have ever known.