Cash is freedom: a crucial pillar that supports economies and the autonomy of individuals within them. Economic anthropologist and author Brett Scott challenges the opposing concept of ‘a cashless society’, arguing in a recent interview that major players in finance and tech are benefitting from the misconception that we can and should sacrifice the privacy, inclusivity and simplicity of cash.
Speaking with The Fronteras Desk—a site ‘covering under-covered news’—Scott says the idea that a modern economy should exclude cash is being driven by ‘large players acting against the cash system’ motivated by the opportunities cashless payments afford them. Cash serves as unwelcome competition within the payments landscape, allowing individuals to transact without relying on third parties, thus impacting their profits.
