In a world being shaped by digital connections and convenience, you would be forgiven for thinking that cash is becoming irrelevant. GPS has rendered the paper map all but obsolete, airplane boarding passes are increasingly being delivered electronically, and when was the last time you handwrote a letter to a far-flung friend or relative?

Yet our old paper money remains steadfast. Even in 2020, that most futuristic sounding of years, legislation has been passed in New York City that obliges brick-and-mortar businesses — in that most global of cities — to accept cash. Other U.S. cities and jurisdictions have enacted similar laws. Although slowly declining, cash remains a preferred payment method in this country. Federal Reserve research shows cash remains one of the most used payment instruments, and — perhaps surprisingly — young adults are embracing cash, with those under the age of 25 using cash for approximately one third of transactions.