Philippines want to turn cashless

The Philippines government stated Tuesday that it is prepared to become a fully cashless society, partly in response to the rapid spread of COVID-19 throughout the country last year and the role played in doing so by the handling of money.

The issue was raised following a recent survey conducted by international currency transfer firm which found that 21 nations are in favour of becoming cashless societies. Many of those are Asian nations, including the Philippines, which ranked sixth on the list of nations willing to support a cashless society with 52% support.

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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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