content: Would you accept Canadian notes once the government no longer supports them as currency?  I am sure people would rather accept American (or other country) notes. That is, until all central banks start going down the same route. The Australian central bank has been considering eliminating our largest note ($100) for a while now. Although they publicly deny it, you will see PR pieces hidden as news looking to shift the Overton window (e.g. "There are 300 million in circulation but why do you never see Australia’s $100 notes?") The primary intended consequence of eliminating cash (or at least eliminating large denominations) is to wipe out as much of the black market economy as they can. There is not even a need to create their own digital cash, they only need to get their hooks into existing digital payment platforms (which they mostly already have).