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The impact of cashless economy





Being totally cashless hasn’t been hard for this Apple Watch wearing, technoluster, or others it seems. Still, for others, it’s proven incredibly hard and while cashless society may seem like an amazing idea (lower crime rates, less money laundering, time/resources saved from making money and easier currency exchange when travelling) but there are some vast downsides too.

Zero cash - no notes or coins - looks like the way things are going abut how quickly we get there is up for some debate. Going totally digital means 100% traceable, digital and fully controlled and there are lots of forces out there that don’t want that world. There are lots of larger issues surrounding going cashless that many rage against.

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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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The debate

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No cash, no freedom, for better or for worse, an Australian example