Of course, this is because cash has a number of characteristics that ensures that this work so well:
- Cash is immediate (As soon as I got paid the money, I can use it again).
- Cash is irreversable (If I have the money, nobody can reverse the transaction without my consent and or knowledge)
- Cash transactions are cheap (to the consumer, but not to the eco-system)
- Cash does not require a name (KYC) attached to it.
- Cash is pretty inconvenient in many ways
- It is impossible to do P2P payments in realtime and over a distance
- Electronic payments can be more secure, more predictable and actually at a lower cost (for the eco-system) than cash.