politics

In a cashless economy, democracy loses ground

The world is approaching the moment when humanity will finally and irrevocably enter the era of a cashless society. Most of Europe has already set foot on this path. India is about to switch to non-cash settlements and increasingly more people in the US are getting used to the new non-cash reality. Soon, our digital world will offer no other options.

Cashless economy to fight crime and terrorism: how far are we willing to go?

The amount of transactions occurring through cash has been slowly falling over the past few years, as the result of new payment methods appearing in our lives. Banks and governments are seizing this opportunity to slowly squeeze cash out of the economic landscape, so as to increase its profitability (for the former) and its control (for both), claiming that cash benefits underground economies and terrorist networks. Beyond the questionable validity of these arguments, it seems no one in the public is realizing the disastrous consequences this would have for our societies*.