Cash and Crises

Nearly 1 in 4 women in France experience economic violence from their partners, often as an initial form of abuse. 28% of women in a relationship lack a personal bank account. 72% of women suffering economic violence also endure verbal or physical abuse, illustrating the interconnected nature of these violences. Cash remains a critical resource enabling women to escape abusive relationships when digital finances are controlled or monitored. Cash accessibility must be preserved to ensure immediate autonomy.

Over the past two years (2023–2025), the world has faced persistent geopolitical conflicts, economic volatility, and climate-related disruptions. In such an environment, cash, gold, and cryptocurrencies have all experienced increased demand—not for transactional purposes, but as stores of value in times of uncertainty.

The fragility of IT systems has been starkly exposed by recent high-profile outages. The AWS crash in October 2025, Spain’s power outage in June 2025, and the global CrowdStrike Falcon Sensor outage in July 2024 have disrupted payment systems worldwide, costing the global economy billions annually. These incidents underscore the irreplaceable role of cash as a backup when digital payments fail.

With the rise of geopolitical tensions, formal international monetary flows are increasingly restricted, leaving communities in isolated or sanctioned regions dependent on informal financial networks. The case of North Korea underscores the critical role of cash in sustaining these flows.

1 Month to Go - The Future of Cash 2025

As France braces for a nationwide day of action dubbed “Bloquons tout” (“Block everything”), a striking feature of the protests is the call for citizens to withdraw cash from banks and use it instead of cards. This tactic, reminiscent of past grassroots movements like the Yellow Vests, aims to disrupt the financial system and send a message to both the government and major banks.

The 2025 Future of Cash Conference promises to be a pivotal forum for discussing and debating the future role of cash in our rapidly evolving society.

France's National Payments Committee urges immediate action to secure future payments sovereignty amid rising geopolitical tensions. Cash is crucial for economic resilience, industrial autonomy and national sovereignty.

The Riksbank supports the proposal for an obligation to accept cash in the sale of essential goods, and to strengthen the banks' responsibility for cash handling. Cash is essential for economic and social inclusion, and for the resilience of the payment system.

Cash remains vital in Germany despite declining usage. A Bundesbank study reveals its importance for reliability, inclusion, and education. While digital payments rise, cash's unique benefits ensure its continued relevance.

On April 28, 2025, Spain Portugal and parts of France experienced a widespread electrical outage that plunged about 55 million people into a pre-electric age. The blackout had significant impacts on digital payments and cash demand, highlighting the vulnerabilities of modern payment systems during infrastructure failures.

Beyond technicalities, cash serves as a unifying force in society that should not be underestimated.