This does not actually require cash to be abolished, but rather that it no longer acts as an effective 15 4 / 14  BIS central bankers' speeches  competitor for large transactions.15 Under these conditions the central bank could gain greater control over the transmission of interest rates to households and businesses.
In a deep recession, it could reduce interest rates by more than is currently possible and stabilise economic activity more quickly, reducing the need for other non-conventional measures. And in an upswing, the ability to pay positive interest rates on digital currency would put increased upward pressure on deposit rates provided by banks.