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The US is not a land for cashless





There’s a reason they say cash is king. Commodity money—physical objects like coins and paper bills that hold value—has been used since ancient societies made the switch from bartering goods like salt and cattle. America started issuing its own currency, which evolved into the dollar we know today, in 1776, just before the country declared its independence.

Cash is still the second-most-used form of payment in America today after debit cards. But many advocates for “going cashless” believe that the paper dollar’s time is nearly up.

As the coronavirus pandemic ravages communities around the globe, the use of cash is raising concerns around cleanliness and viral transmission, even though the cotton that paper money is made of has been proved to carry virus particles for around the same time or less than plastic credit and debit cards do. And as digitization tightens its grip on the world, new technologies are popping up left and right to make paying for goods and services easier and more frictionless.

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Go Further

Why cash is needed - 07/19/2020

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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