Despite all the payment solutions, Cash is still a rock

Like credit cards in the ‘70s, society’s shift to digital wallets and cryptocurrency has been all of the excitement (and rage) in today’s monetary landscape. For laymen like me, unaware of all of the integral details of such currency alterations, this shift has been a swift transition, prone to slight confusion. With split support from advocates of digital wallets and cryptocurrency alike, this transition proves to be one of divisive support and opposition. As a nation, plugging the daily functions of our lives into the digital world has brought upon many significant successes and, conversely, pitfall failures. Certainly, there was only a matter of time until currency made an impactful debut in the digital realm. The only question left to ask is: what changes might this trigger as society moves forward?

For a majority of us, our lives have consisted of paying for items and services with physical money and rectangular plastic cards. Personal checks have become nearly obsolete in modern times, and coins, specifically pennies, have experienced an incessant shortage. We recognize these shifts more distinctly than any other. A subtle but impressive progression, digital and cryptos timely entrance makes sense in the chain reaction of such occurrences. 

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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.

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