🇦🇺 Australian mainstream media ABC News, reminds us that when a CrowdStrike software update caused millions of Microsoft systems to crash around the world in July 2024, many started questioning our heavy reliance on digital banking. The system outages, as many pro-cash campaigners argued, underline the risk of moving to a cashless world.
The media quotes the Assistant TreasurerSee Cashier. More saying “that’s a big part of why, in November, the federal government mandated cash for essential purchases, such as groceries and fuel.”
🇫🇷 In France, a France 2 TV report [in French] argues that in spite of the decline of the share of cashMoney in physical form such as banknotes and coins. More in terms of POSAbbreviation for “point of sale”. See Point-of-Sale terminal. More payments, cash retains critical advantages. “A banknoteA banknote (or ‘bill’ as it is often referred to in the US) is a type of negotiable promissory note, issued by a bank or other licensed authority, payable to the bearer on demand. More never breaks down, it is not subject to IT bugs, and it is no threatened by a cyber attack. A banknote is anonymous. At a time when everything is connected, you don’t necessarily appreciate being tracked by your credit card.”
🇳🇱 In the Netherlands, the Central bank has said that the chance of a cyber attack on important infrastructure is increasing, particularly from Russia. If the digital paymentA transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. More system is disrupted, then people will no longer be able to pay for goods by bank card, or transfer moneyFrom the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknote, a typical representati... More automatically.
The central bank does not suggest how much cash people should keep at home, but says it will come with more detailed recommendations In Sweden households are recommended to keep enough cash for a week’s shopping at home, which would be €167 for a two-person household.
🇸🇩 In Sudan, a war that has generated what the UN calls “a freight train of suffering.” Is evolving into a catastrophic humanitarian situation. Even as onging crises in Ukraine and Gaza draw more international attention, Sudan has become the site of a declared famine and the world’s largest current displacement crisis. While international attention remains focused elsewhere, the crisis in Sudan demands immediate action. Strengthening the financial sector’s capacity to deliver humanitarian aid could play a pivotal role in mitigating hunger and suffering.
Sudan began circulating its new currencyThe money used in a particular country at a particular time, like dollar, yen, euro, etc., consisting of banknotes and coins, that does not require endorsement as a medium of exchange. More, with the aim of curbing the shadow economy and combating counterfeiting, a consequence of the war that has been raging since the beginning of last year. In early November, the Central Bank of Sudan announced it would introduce a new 1,000 Sudanese pound note, a move rejected by the Rapid Support Forces (RSF) as a step towards the division of the country.
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