The convenience of a cashless economy comes at a cost. Is society willing to pay the price?
You may think of card and electronic payments as conveniences. But beyond their practicality, the phasing out of cash in cities around the world has implications. Brett Scott, a journalist, financial activist and former broker in London, argues that a cashless society will undermine people’s privacy and limit their lifestyle choices. getAbstract recommends Scott’s passionate call for maintaining dual payment options to financial industry executives and concerned citizens.
In this summary, you will learn
- Why governments and electronic payment providers are promoting a low-cash economy,
- How a cashless society undermines people’s privacy,
- Why maintaining cash-based payment options is a prerequisite for social inclusiveness and diversity.
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