An advantage of this is that the currency could be gold backed (cheating?) or limited by maths (à la bitcoin). However GDP should go up, creating employment, since the velocity of the money should increase. Investing would be an option, helping business to grow.
Something like this may be needed with universal income, to make sure the money is spent. Inflation is one way to get people to spend, but always ends badly.
There are some practicalities. E.g. money between individuals would still expire, but money paid by a medium/large business into a bank would get a new 90 day start.