Yes, if the reference is immutable. The main problem with pointers is ad-hoc memory management anyway.
Back in the day, that was one of the major selling points of the new language Java over the more common C and C++. Developers don't learn about it nowadays because changing pointers is practically never done outside the most esoteric parts of system programming.
(*) Semantically, at least. The compiler is free to relocate the value to a different memory position in a way transparent to the programmer.