Of course, this will cause every civilized government to fail, because governments depend on tax dollars.
If governments find it impossible to tax income as they lose their monopoly on cash, they will still be able to tax tangible property: land, buildings, cars, airplanes, etc.
If governments find it impossible to tax income as they lose their monopoly on cash, they will still be able to tax tangible property: land, buildings, cars, airplanes, etc.