Highly digitalised societies do much of their (daily) payments without cash. Crypto currencies add to this also in less digitalised countries and continents. So far so good one would say but that is not completely true according to central banks.

What is the issue?

In Sweden large parts of the country have become cashless already, cash registers and bank buildings have been closed but not all people are able to pay digitally. Some elderly people and those that cannot read for instance are suffering in a cashless society. In Sweden 1% of payments is done in cash. A new (digital) E-krona is being thought of. At the same time the government wants to ensure cash registers are placed within 25 km of every citizen.

In the Netherlands (39% of payments are in cash) according to the Dutch central bank the target of 60% non cash (2014 target) should not be set higher nor wants it shops to go "cash only". Again protection of the weaker is the reason as well as not being fully dependant of electronic systems which can fail or be hacked.

My opinion

Well I have some experience with family members that cannot do digital payments either because they never had a computer, forget the code or cannot be trusted with money at all and I must say it does not matter if it is cash or digital, someone needs to assist these people. I do help some family members with their bills and taxes already. For me assisting it is far more easy to help them digitally and online than to go there each week and give them some cash from their account. The other great development is the card with contactless payment. No pin code required for small payments. That is what almost every elderly person can do and the risk is limited.

Therefore I am not afraid the cashless society is worse. It is better and safer for shops, and modern criminals just look a bit different. Needless to say we and shops must protect ourselves online as well as they are here already also on steemit !

[courtesy steemit .com]

Goldrooster