Central bankers fear chaos in a cashless society

Europe's central bankers are warning that a gradual phase-out of cash in many countries poses a serious threat to the financial system, as relying too heavily on digital payment systems exposes them to catastrophic failures in the event of cyberattacks.
Regulators are also weighing in to say that IT failures, systemic hacking risks — and the fact that more vulnerable members of society would be alienated in a cashless world — all argue in favor of keeping a robust system in place — ie., cash.

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Central bankers fear chaos in a cashless society

"Please don’t let us go to a cashless society" says british former Member of the European Parliament Patrick James O'Flynn - 10/25/2019

Dont buy into these cashless payment myths - 10/10/2019

The Pros and Cons of Moving to a Cashless Society - 09/18/2019

Experts’ debate: what does a cashless society mean? - 09/17/2019

How will a cashless society affect the poorest ? - 09/05/2019

"This shift to all-digital upends the foundation of our economy and creates unintended consequences for consumers." Frank Sorrentino, CEO of ConnectOne Bank - 08/30/2019

"There is a huge machinery to make us believe that ‘cashless-ness’ is in our interest" Shrija Agrawal, Associate Editor Mint - 08/19/2019

Say No to the “Cashless Future” - 08/15/2019

"A cashless food economy is not all good" by Sylvain Charlebois, senior director of the Agri-Food Analytics Lab at Dalhousie University in Halifax. - 08/02/2019

Cashless isn’t just classist, it’s bad for business - 07/10/2019

Kenneth Rogoff’s war on cash: is he right to call cash a "curse"? - 07/03/2019

Stefan Gleason, President of Money Metals Exchange : "Big Banks and Big Tech are the ones pushing for a Cashless Society" - 07/02/2019

Natalie Ceeney, author of the 'Access To Cash Review' says : "everyone should have guaranteed access to cash in the future" - 06/19/2019

Douglas Ross, Member of Scottish Parliament: "The loss of access to cash inevitably affects the more vulnerable in society." - 06/11/2019

International Legal Firm raises concerns about privacy and security in a cashless society - 06/06/2019

The British Treasury Select Committee warns the elderly and those on low incomes are still reliant on cash - 06/05/2019

Cameron Bready, Global Payments CFO : "There's always going to be a role for cash in commerce around the globe." - 05/29/2019

Dr Muzaffar Syah Mallow : "Cashless society will not make our society crime free." - 05/27/2019

We must halt the relentless march to a cashless society. - 05/02/2019

A cashless society wouldn't work in the US - 04/23/2019

Andrea Nitsche from Cash Matters, says: “Going cashless is not a choice consumers make, it’s a choice made for them by market players." - 04/04/2019

Cybercrimes and security in a cashless society by Dr Muzaffar Syah Mallow - 03/15/2019

Tax evasion and crime: the truth about cash - 01/14/2019

Reserve Bank of Australia governor Dr Philip Lowe: "As we rely less on cash, outages affecting retail transactions can have a significant impact on businesses and individuals." - 11/30/2018

The cashless dystopia : "With implantable chips, we are becoming hackable and trackable devices." - 11/30/2018

Malcolm McDowell, Director on the Board of the International Currency Association : "The most powerful form of reinforcing a ‘save first, buy later’ mentality is to use cash." - 11/20/2018

"For decades, anti-cash campaigns led by dominant card brands, have been waged with the objective of discrediting cash" according to the ATM Industry Association - 11/16/2018

Andy Hoffman, analyst : "In India, the "cashless society" decree changed the life of the masses for the worse." - 11/12/2018

"If cash stopped working, it would leave all individuals to rely on the private sector for access to money and payment methods." says Swedish economist Cecilia Skingsley - 11/12/2018

Bitcoin causes global warming according to researchers at the University of Hawaii - 11/01/2018

The cashless society from an ethical point of view