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Facebook unveiled an ambitious plan to create a new digital currency on Tuesday. A technology expert believes that first of all, he has to convince people to entrust their personal data to them to succeed. (18th of June)
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Does the use of cash have an expiration date?

The evidence that physical loot is available at borrowed time is slowly but surely increasing. But do not read the last rituals for cash.

If anything, the box office outlays in the Target stores over the weekend reminded that pay machines are not child's play and when it comes to technology, nothing beats cash failure.

In that sense, you might want to have a modest supply at hand.

Still, you've made it quite comfortable to leave most bills and coins behind. In fact, more of you place your smartphone or smartwatch near the cash register to pay for this or that money with services like Apple Pay or Google Pay. Your wallet and all the money you keep in it will remain in your pocket.

You're as cool as your friends who pay debts and exchange digital money through Venmo, PayPal, or Cell.

Screenshots of the Calibra digital wallet app. (Photo: Facebook)

Americans are generally less dependent on physical currencies. In a recent Pew study, 29% of US adults said they did not make cash purchases in a typical week (from 19659011) 24% in 2015.

Facebook's Cryptocurrency

They can not help looking at the future attacks on cash. At least you are curious, if not sold yet, on the idea behind the global "cryptocurrency" of Libra, which Facebook announced on Tuesday. The social network is driving this alternative digital payment system with more than two dozen financial and technology partners including eBay, Uber, Lyft, PayPal, Spotify, Coinbase, MasterCard and Visa. Pricing is based on other financial instruments.

Facebook Currency: Would you trust Facebook with your money? What Libra's cryptocurrency means to users

Yolo app: The anonymous New Yolo Q & A app attracts millions of teenagers Concepts like Bitcoin and Blockchain are still baffled and not very excited about Facebook's miserable reputation for privacy. This must be a concern for Facebook, as it also launches a new subsidiary with plans for a crypto-digital wallet called Calibra, which is expected to be launched in Messenger, WhatsApp and as a stand-alone app in 2020.

You may even wonder where you could someday carry around cash, as the Costanza physical wallet is long forgotten.

Sixty-eight percent of surveyed smartphone owners surveyed by SurveyMonkey Audience on behalf of USA TODAY recently announced that smartphones may fully replace wallet needs. Almost half (45%) believe that wallets are outdated in five years or less.

How much cash should you keep for an emergency?

The Target episode proved that you should not count cash. Some target buyers reported on Sunday that the stores could accept cash (or checks) but could not process their credit cards, even though this hook was much smaller than with much larger outages that target registries ruled out the day before, making payments over Plastic prevented, and yes cash too.

"I think (the target episode) is a slip-up that everyone will quickly forget," says Greg McBride, financial analyst at Bankrate.com. "However, it is a reminder to all of us that we only have to have a certain amount of cash for the individual case", such as after a hurricane, when the power supply fails.

How much cash you have Should always be there for emergencies, depending on your circumstances, of course. McBride, who travels frequently on business, says he has enough time to take a taxi to the airport.

Other people who interviewed TODAY TODAY stated that they would normally carry between $ 20 and $ 50, although the amount is sometimes lower.

There is still a great risk that you do not want to have too much cash in your pocket or under the mattress because of the risk of loss and theft. Plastic offers protection against these scenarios, not cash, "says McBride.

As you might expect, Mastercard, Senior Vice President of Communications, Seth Eisen, takes a similar step.

"Electronic Payments – Credit, Debit and Prepaid Cards We all know the way in which they occur and offer people and businesses the opportunity to provide more security, transparency and security when making a payment or even be paid for, "he says.

Cash is still king when it comes to the smallest of purchases. Forty-five percent of consumers who have credit card rewards surveyed by CreditCards.com over the past year used cash for purchases below $ 10. This compares to 30% of consumers who use debit cards for such purchases and 23% who use credit cards.

The survey also found that $ 25 was the median purchase price at which premium cardholders stated that it makes sense to use credit. [19659005] "I'm tempted to quote Mark Twain. The death of cash was greatly exaggerated, "says McBride. "It is definitely going down and will continue to decline, so if it completely disappears, it's difficult to set a time frame."

Reader: Do you plan to forgo cash altogether? Email: ebaig@usatoday.com; Follow @edbaig on Twitter

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