It’s a reality potentially facing all of us: all of our finances and effort reduced to a single plastic card in our pockets.

The Reserve Bank announced today that only 13 per cent of transactions over the last year involved cash, a statistic that has some worried about what will happen to physical money.

Yet Swinburne University of Technology Adjunct Professor Steve Worthington told Oliver Peterson on 6PR Live despite fears, mandating a cashless economy would remain an unreasonable idea for many years to come.

“There’s about two million people who have either irregular or no access to the Internet; how they are supposed to do digital banking is just beyond me,” Mr Worthington said.

Press PLAY to hear more about the possibility of a cashless future