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What is a demonetization?

What is a demonetization? Here are some definitions.

Noun
  1. The act or process of demonetizing
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Although India undertook similar demonetization projects in 1946 and 1978, Modi's program is recently unmatched in scale and speed.
It is the fact of monetization for one of the metals, and demonetization for the other.
Strictly speaking, the Indian demonetization is less about phasing out cash than it is about accounting for underground money.
The House or the Senate, I 've forgotten which, had passed the demonetization bill.
But what shall be said in defense of the demonetization of silver by the United States?
Her income and creditor classes are daily in receipt of an unearned increment to their wealth by reason of that demonetization.

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