In today’s increasingly digitalized world, physical objects are fading away; physical money is no exception. The role of cash—both bills and coins—is steadily diminishing, challenged by fintech innovations that threaten its very existence, marking a potential turning point in the history of money. The rise of centralized and decentralized digital payment systems is reshaping the financial landscape, reinforcing the shift toward digital alternatives. Notably, China and Sweden, the first countries to introduce banknotes, are piloting the cash alternative project. Other countries are withdrawing high-value banknotes. Amidst this transformation, a heated debate continued between advocates for maintaining cash circulation and skeptics who fear its imminent demise. This paper critically argues common issues such as tax evasion and the facilitation of the shadow economy, exposing the underlying unfairness in these claims, especially as the push for greater transparency has become a settled issue. It then presents counterarguments that support the authors perspectives. Furthermore, the study delves into key questions surrounding cash’s future: is it truly on the brink of extinction, or should it coexist with digital payment methods? Most importantly, should cash be retained for a longer period, or has it outlived its usefulness? To maintain focus, this paper will focus on the internal considerations over international ones. CBDCs emerge as the primary alternative to physical cash. The paper does not address the sufficiency or implementing challenges of CBDC.

The decentralized anonymous cryptocurrency is a new kind of technology thatcan be used for many purposes such as transferring money and investing. However, they do not have a legal entity that is in charge monitoring its uses. Its extraordinary rise raises critical questions such as, should we regulate it or ban it? Since its purposes have been converted from an anonymous payment system to a tool that is used in illegal actions and undermining financial standards. This paper seeks CC regulation options. Plus, it attempts to lay out the various risks they pose and benefits they bring with the technology they use (blockchain). The objective is to investigate which approach will be more reasonable for the country’s conditions. The regulators will try to convince CC service providers to obey rules and operate under official standards,while banners restrict the new instrument’s integration with the financial system. The study relied on the descriptive approach to achieve its objectives. The recent literature and publications of the most important related bodies around the world were reviewed. Findings reveal that itistoo early for CCs to be considered legal tender. Moreover, both approaches could be adopted according to the country’s conditions. Plus, alternatives may have their say. Some suggestions are made for local agencies and investors.

ABSTRACTInnovative technologies are game-changing in the financial sector. The new-born technology (blockchain) is promising to change the entire banking system, despite various benefits, critical obstacles still stand. In addition, with an overview of major opportunities and challenges, this study aims to conduct a comparison between theoretical literature and practical literature to point out a contradiction if it exists. More than 130 references (paper studies and links) which were conducted by cryptography and technology experts, academics, financial institutions, and other sectors were used to achieve study aims. A systematic approach conducted to accomplish study objectives; we analyzed results and different point of views on blockchain application in banking globally. The study concluded that blockchain itself may hold strengths and weaknesses in a single aspect such as efficiency and security, while no contradictions were observed between the results on the ground and the theoretical literature.The vast majority of references indicate that blockchain will be the next banking system, which may change the legacy of banking. As it stands, the current blockchain-based applications are capable of operating in individual services, specifically in payment systems and cost operations. Financialcompanies which provide similar services can take advantage of this technology, especially in cross-border transfers, and this will retract a large share of bank profits in case this technology is not adopted. After all, a full adoption needs more improvement in projects and applications based on this technology.

The banking sector is one of the most important pillars of any economy around the world, as it is the main source of financing and facilitating daily financial transactions. In Iraq, particularly in the Kurdistan Region, commercial and Islamic banks are progressing slowly. Since technology is a destiny rather than a choice, banks have to facilitate their services and reach customers faster and easier through e-banking practices. This study is attempting to shed light on the impact of these services combined (E-banking) on customer satisfaction in its five dimensions: security, privacy, cutting costs, simplicity & speed, and convenience. In addition, it intends to find out whether the commercial banks in Duhok provide up-to-date electronic services. To conduct this, questionnaires were used to gather responses from customers and managers of three commercial banks in Duhok. The statistical program (SPSS) is used to analyze (132) questionnaires. Results showed that there are modern e-banking practices performed by all three banks. Moreover, it demonstrated that customers are satisfied with these services, yet, on different levels. This study included some recommendations such as security considerations, improving marketing techniques, mobile banking is a core element in e-banking. In addition, customers should be more connected to up-to-date e-services as an international request.