This is very concerning. As well thought out as this is, I might suggest that the lens does not consider long term outcomes and I wonder if realized, won't fracture a significant part of the social scaffolding.
Paper currency is robust, anonymous and must be discovered to be destroyed. In contrast, electronic currency is dependent on electricity and software, is tracked from start to finish and can be destroyed at the press of a button. I think there are nefarious reasons governments have been pushing down paper currency for decades.