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"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





The renowned Swedish economist and journalist Cecilia Skingsley authored “If cash stopped working, it would leave all individuals to rely on the private sector for access to money and payment methods. It would be a historical change without precedence.” Manifestly, the cash transactions are not accepted among Swedish retailers at all. Advanced and cashless technologies have been emerging, instant adoption by payment platforms and even cryptocurrencies are clear evidences. While trade settlements are also equipped by the central bank’s real-time gross settlement system. Skingsley mentions “Swedes could therefore find themselves in a situation where cash is no longer generally accepted as a means of payment.”

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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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