Interesting link at http://www.dollarrecall.com

Im not watching that whole ad, but Im guessing they are referring to the introduction of a digital dollar actually known as the central bank digital currency. It would be a digital version of physical cash kinda like a government issued crypto. I dont think its going to be a real block chain crypto---my understanding is its just a digital version of the physical dollar. If thats all it is---its a non-event as millions of Americans have internet based banks and have therefor been largely cashless for years----relying instead on debit and credit cards for everything. I have a regular brick and mortar bank----and I always carry a little cash---but I find I rarely ever use it.

The truth is, the vast majority of the money everyone has is already digital. There is only about 2.3 trillion in actual physical dollar denominated cash (M0). But the M1 money supply which includes all cash and bank deposits---is almost 20 trillion. That doesnt include money in mutual funds, deposits outside of banks, money market funds, and institutional or brokerage money market funds. So there is nowhere near enough physical cash to represent all the money existing in our base economic system. With 20 trillion in deposits and only 2 trillion in physical cash---its clear everyone's money cannot possibly be in the bank vaults. Unless you have all your cash stuffed under a mattress---or carry it with you---most of your cash has been basically digital for quite some time.

That said---getting completely rid of cash would be a HUGE issue and would leave people open to a huge invasion of privacy as in a TOTALLY digital currency economy---your every expenditure and all your revenue could be tracked. Much of what you do and buy can be tracked now---but you can use cash and avoid that if you wish. That option would be gone in a totally digital society. Furthermore, there is talk that digital currencies could even be designed to "expire"---which would mean you either use them or lose them (might be something the government could do to spur economic activity). Furthermore---what happens to commerce in an extended power outage if we go completely digital? Lots of things to dislike if there was any real move to go completely digital.