Venezuela risks cashless

Cashless society proponents should pay attention. Privacy concerns have been the major barrier for many people who don’t trust the concept of a completely cashless society no matter where in the world that cashless society might be practiced.

The worst case scenario of which anyone could imagine is taking place right now. The Nicolas Maduro government in Venezuela is about to demonstrate to the world what happens when a dictatorial government abolishes all forms of physical cash. To put it mildly, secret police will be your neighbor! The government is about to be inside your wallet.

Maduro was elected president of Venezuela in 2013. Maduro was the United Socialist Party candidate. He received 50.6 percent of the vote. Since 2015 Maduro has ruled the South American country by decree. At that time the ruling party legislature granted him dictatorial powers. Things got worse when in 2019 the presidential election between Maduro and Juan Guaido was disputed, the opposition and majority National Assembly declaring Maduro to be a usurper of the presidency.

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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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