Columnist: It may soon be possible for an economy to function without paper money  Instead, the government would electronically record all transactions as they take place  However, while this may be technologically feasible it would never be willingly accepted by a society, for it gives the government too much power
People are rightly distrustful of governments with too much power
A society would never willingly accept a system in which, in lieu of paper money, the government keeps track of every transaction electronically.