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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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Examples
The House or the Senate, I 've forgotten which, had passed the demonetization bill.
Whether Modi's short-term demonetization succeeds will depend in large part on the initiative's long-term plan.
And so it was that our cotton planters, by the demonetization of silver, were placed alongside the barbarous people of India.
It is the fact of monetization for one of the metals, and demonetization for the other.
But what shall be said in defense of the demonetization of silver by the United States?
Strictly speaking, the Indian demonetization is less about phasing out cash than it is about accounting for underground money.

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