Cashless society: Say No !

They said digital payments would defeat criminals, terrorists and money launderers but the opposite has turned out to be true. Money laundering through banks, hackers blackmailing legitimate listed companies for cryptocurrency payoffs and regular outages by my bank’s Eftpos system show cash may be our last bulwark against the crims and the thieves. Card companies and banks implied that cash was unsafe at the beginning of the COVID-19 pandemic but it turns out that cards maybe dirtier than cash. Scott Morrison’s government proposes to ban cash transactions over $10,000. T Our right to...

Australians don't want cashless - 07/27/2020

Most Australians do not want cash to vanish despite coronavirus speeding up the trend towards a cashless society. A survey for Tasmanian-based MyState Bank suggested about 70 per cent of Australians wanted cash retained. MyState Bank said the research showed the pandemic and concerns about health risks had accelerated a shift to what it described as a "less cash" society. It found 68 per cent of Australians were using less cash since the outbreak. Read more 

Australia now experiences the dark side of cashless socirty - 07/15/2020

Within days of the COVID-19 outbreak in Australia, most shops began eschewing cash, with a preference for cards. And here’s the thing – most of us quickly complied. Recently, banking experts have said that over the 12 weeks or so that the pandemic was at a crisis point across the nation, the digital banking revolution sped up rapidly, by about five years. And there were two reasons why: Firstly, the fact that cash became unacceptable currency almost overnight. And secondly, the effect of a psychological shift, particularly amongst people who were not previously avid users of technology, who...

Is unbanked Ghana really looking for cashless society? - 07/13/2020

Globally, countries are experiencing a rapid expansion of digitisation and technological advancements that touch on nearly all aspects of life. In general, the surge in digitisation has improved operational efficiency and service delivery in all the key sectors of public and commercial importance – from manufacturing and industry, to business and commercial operations, agriculture, health, education and finance. Where the debate does exist, it highlights the growing tension between an evolving consumer payments landscape, a desire for increased business efficiency, and a growing concern...

How to create a coin shortage to go cashless - 07/11/2020

NORTH CAROLINA -- As the nation inches closer to 2.9 million coronavirus cases, people are experiencing more of a trickle down effect of the pandemic. In particular, the coronavirus is impacting our money, right down to the penny. The Federal Reserve says the circulation of physical coinage has slowed since the spread of the virus and the U.S. mint has lowered production. The means supply is low and it's impacting local businesses. Read more

Australia discovers the problems of a cashless society - 06/23/2020

The deadly coronavirus pandemic has seen many stores refrain from accepting cash payments, however experts are warning the elimination of coins and notes and the emergence of a cashless society may not benefit everyone. There are concerns for hundreds of thousands of Australians who may prefer to use cash, particularly in remote and rural areas. Australia is on track to become one of the world's leading cashless economies. Read (and watch) more 
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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

The cashless society from an ethical point of view

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