There’s an interesting article in this week’s Moneyweek regarding the use of cash. As it points out, there are several powerful stakeholders for whom replacing cash is beneficial. The government can of course tax electronic payments more reliably than cash transactions. The banks and tech companies behind the payment methods (think Paypal, Apple and Google amongst others) take a cut of every transaction. And of course it has been shown time and again (there’s an example in the article regarding McDonalds), people spend more money on cards than they would in cash.

Crypto currencies may of course be the big disruptor, taking away the cash cow from the above institutions. Just imagine the amount of pressure there will be for legislative restraint…

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