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Going cashless is a gift to China





We are, yet again, in danger of being consumed by the Chinese borg:

While much of the world is consumed by the COVID-19 crisis, the Chinese government is quietly unleashing a financial innovation that will reshape its economy and improve its strategic standing for decades to come. In April, China’s central bank introduced the “digital yuan” in a pilot program across four cities, becoming the world’s first major economy to issue a national digital currency. …

The digital yuan will eventually replace cash in circulation….The move from paper to bytes is more than just a sign of our digital times. Chinese leaders are making a strategic choice to achieve both a vastly more efficient administrative state, and the ability to dictate the terms of 21st century economic diplomacy by setting the standard for digital monetary systems.

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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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