Elon Musk Believes Paper Money Is To Soon Be A Thing Of The Past

Elon Musk is one of the most popular people in the world right now. He well-known for being a part of modern pop culture trends by taking part in Pewdiepie’s Meme Review and Joe Rogan’s Podcast but before all that he was (and still is) the CEO of Tesla and the founder of the SpaceX program. When it comes to the crypto space, musk was a pretty big part of the creation of the popular ‘meme’ currency, Dogecoin.

During a recent interview on the CNBC podcast called ‘for your innovation’, Musk has spoken his mind once more on the financial world. He was quoted as saying that paper money, as we know it, is going away and he had his reasons well lined up for inspection.

Transfer value

In explaining why he believes paper money is to soon be a thing of the past, Musk argued that cryptos are a far better way of transferring value as opposed to fiat money.

There are others out there that share the same sentiment as the Tesla CEO. There have been several other crypto figures that have had this opinion for a long time now.

Cash on a pedestal

One Twitter user commented on the tweet sent out by Joseph Young in regards to Elon’s interview claiming that cash is no longer on a pedestal, so to speak.

The former CEO of Dogecoin seems to be very smart https://t.co/vjswO6VzVL

— Joseph Young (@iamjosephyoung) 7 April 2019

Of course, this is just a random tweet from a random enthusiast but it got quite a lot of likes and retweets so this sentiment must be shared amongst the community.

According to another Twitter user commenting on the thread on CNBC’s twitter feed, a good number of countries are already going cashless. The user went ahead to mention Sweden which is planning to introduce its own national cryptocurrency in 2021 and proceed to go fully cashless by 2023.

Privacy

Privacy is, of course, a big thing in the crypto world. It’s also a touchy subject in this industry. Some believe that by completely getting rid of cash, governments are given a chance to get involved with the decentralised nature of cryptocurrencies and compromise privacy.