As part of a new open forum on the future of money, the Bank of England is challenging Brits to see if they can live for a week either using only cash or not using cash at all.
The BofE says banknotes will remain an "essential form of payment for some time" - just this week, it has invited the public to nominate a scientist to adorn a new £50 note.
However, as card and mobile payments continue to grow in popularity, the bank also wants to engage Brits on what money will be like in the future, launching an online forum that will run until the middle of January.
Central to this is the 'cash vs cashless challenge'. Brits who usually pay with cash are being asked to spend a week only using cards and other electronic payments methods, while those that generally go cashless are invited to try digging out their notes and coins.
The BofE wants participants to keep a log of their experiences and then let it know how easy or difficult it was to carry out the experiment, what the challenges and benefits were and whether the week has changed or cemented their views on how they make payments.
The online forum will also host live Q&As with bank bigwigs, including governor Mark Carney, as well as online polls and blogs.
Meanwhile, a school competition is inviting kids to send in short films on their ideas on the future of money. Winning schools will win cash prizes with the students receiving gift vouchers.
Says Carney: "I’m looking forward to hearing your questions, ideas and thoughts. Together, let’s decide the future of money."
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