Cash Academic Network and Cash Associations’ Forum

The objective of the CAN is to create a network of academics/researchers interested in cash to:

• Share ideas on research topics/areas,
• Connect researchers with the cash community,
• Offer guidance on research,
• Offer a sounding board to published research.

By design, the group brings together researchers with different competencies – economy, sociology, anthropology, history, disaster risk management – and interests – financial inclusionA process by which individuals and businesses can access appropriate, affordable, and timely financial products and services. These include banking, loan, equity, and insurance products. While it is recognised that not all individuals need or want financial services, the goal of financial inclusion is to remove all barriers, both supply side and demand side. Supply side barriers stem from financial institutions themselves. They often indicate poor financial infrastructure, and include lack of ne... More, retail payments, and resilience.

The network is not limited to academia and is open to researchers from central banks and the cash community. A kick-off meeting was held on 19 April and attended by 16 researchers, with another 18 who expressed interest but could not join.

In parallel, CashEssentials is launching a research project to frame the discussion on cash as a public good, a public infrastructure and a fundamental right. The project will address implications for access to and acceptance of cash and the business model underlying the cash cycleRepresents the various stages of the lifecycle of cash, from issuance by the central bank, circulation in the economy, to destruction by the central bank. More.

The topic will be discussed during a seminar on 6 November in Istanbul during the Future of Cash Conference.

The Cash Association’s Forum (CAF)

The CAF consists of 21 organisations representing the demand and supply sides of the cash community around the world. This diverse community uses various tools to make the case for cash, lobbying, social media, petitions, position papers etc. Often the task is to respond and challenge regulatory proposals such as limiting cash usage or debunk anti-cash arguments such as cash fuels the shadow economy. Equally, there is the need to promote initiatives such as mandatory acceptance of cash.

Following discussions amongst members of the newly-formed Cash Associations’ Forum (CAF), CashEssentials will hold a workshop on ‘Framing a Positive Narrative for Cash’ at the Future of Cash conference, 6-8 November, in Istanbul.

Some central banks argue that merchants and the public need to choose cash and exist because it is wanted. In this context, the workshop in Istanbul aims to frame the positive case for cash, not only as an individual choice – I choose to pay in cash – but also as a societal issue – cash is a crucial pillar of economic and social cohesion and resilience. Broad public support, as shown by ‘Yes for Cash’ in Norway, which has 50,000 members on Facebook, offers an excellent base for promoting the future of cash.

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