The future of Cash depends on us

The huge surge in digital transactions during the Covid pandemic has renewed speculation about the future of cash. So will we see the emergence of a cashless global economy anytime soon? Hartley Milner seeks some answers.

Remember the last time you handled cash? For me, it was the rental fees I raked in from the portfolio of houses and hotels I built up to enrich myself at the expense of family members. Did I have any pangs about exploiting loved ones? Not a bit of it … in fact, I laughed all the way to the bank.

I hasten to point out here – in case you have not already twigged – the hoard of cash I accumulated was Monopoly money. Like many families during the lockdowns, we dusted off board games dug out from the darkest recesses of cupboards to help keep us amused and maintain our sanity.

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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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