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"Why a cash-free future might not be as close as you think", WEF 2019

Jan. 7, 2019 Share Source
In January 2019, the World Economic Forum published an important article about the cash debate, "Why a cash-free future might not be as close as you think."

Excerpt from World Economic Forum

"Millions of people in the developed world already live in a de facto cashless society. From the smart watch on your wrist to the contactless card in your wallet, being able to pay for small, everyday items without recourse to cash is fast, easy, and increasingly ubiquitous.

The cashless society is not a particularly new idea. It has generally been held up as an example of the positive march of progress, with some of the most influential names in global economics pointing out its potential benefits. But there may also be downsides, and one UK study has warned that “sleep-walking” into becoming a cashless society could leave millions of people financially disenfranchised.

"cash is not a choice, but a necessity"
" Sean Fleming, "Why a cash-free future might not be as close as you think." WEF (Jan 7, 2019)

The cashless society is not a particularly new idea. It has generally been held up as an example of the positive march of progress, with some of the most influential names in global economics pointing out its potential benefits. But there may also be downsides, and one UK study has warned that “sleep-walking” into becoming a cashless society could leave millions of people financially disenfranchised.

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Last Updated: Jan. 23, 2020

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