A lot of Sweden is already like this. They're a super cashless society currently. I have only lived in Stockholm, but a large number of places will not accept cash in any form. This is done for security and convenience reasons, and most Swedes from what I have seen seem to prefer and like this method. It definitely has implications of course... but none that seem to be bothering the masses.

Here's some info about it: https://sweden.se/business/cashless-society