That would be the best thing to happen in finance.
1) Worldwide commerce and banking be killed instantly
2) Banks would lose their stranglehold on consumers through loan and debt financing
3) Mortgages and rent leases be nullified and squatter's rights be the norm
4) Employers would be caught in an employee's market for years
5) Unions would be full strength
6) The billionaires and millionaires would be hundredaires.

Switching from digital to hard copy format would take so long that the world would finally catch its breath from instant communication and slow down.
The drawbacks would be awful.
1) Possible nuclear releases from no information about the world stage
2) People on life support would be lost
3) Loss of life from car crashes, plane crashes, and ships stranded in middle of oceans
Civilization will endure. Past methods would be brought back. Manufacturing will return and start from scratch again.
I won't argue against it. I'm Gen X and remember the 70s and 80s. I have a strong belief that all will work itself out in the end.
Or, the mutants from the nuclear wastelands will eat us.
