More and Austin Caldwellmore countries around the world are moving away from cash. India's recent announcement that it'll get rid of its highest denomination bill brings back memories of a disastrous experiment to invalidate most of its currency in 2016. But is the country ready for a world with less cash? And what can the rest of the world learn from its experiment.

Today, we tell India's demonetization story and look at the drawbacks of a completely cashless society.

Music by Drop Electric. Find us: Facebook / Newsletter.

Subscribe to our show on Apple Podcasts, Spotify, Pocket Casts and NPR One.

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.