Can the dollar function as a unit of account in a cashless society?

The dollar can indeed function as a unit of account in a cashless society as long as digital equivalents are established. The unit of account is a standard numerical unit of measurement that provides a consistent measure of value for goods and services, which facilitates trade and economic activity. In a cashless environment where physical currency is not used, digital currency or electronic forms of money (such as bank balances, mobile payments, or cryptocurrencies) can still represent the dollar.

As long as these digital forms can reliably convey the dollar's value and are widely accepted for transactions, they serve the same purpose as cash in providing a standard measure to price goods and services. For example, if a good is priced at 10 dollars, whether that amount is paid in cash or digitally, the dollar remains a relevant unit of account. Therefore, the potential for a dollar-based unit of account in a cashless society primarily hinges on the establishment and acceptance of its digital counterparts.