Cash and Crises

In post-conflict societies, cash is a symbolic anchor for political stabilisation. In Syria, the 2026 banknote redesign—featuring agricultural motifs instead of political portraits—signals a break with the past, promotes inclusivity, and rebuilds trust in state institutions. High-quality banknotes communicate institutional competence and legitimacy, essential for restoring faith in the financial system. Cash becomes a tactile affirmation of a transition from chaos to stability.

UK banks announced plans to create a domestic alternative to Visa and Mastercard, aiming to reduce dependence on US payment networks and enhance financial resilience. This initiative is part of a broader global trend toward monetary sovereignty, accelerated by the election of Donald Trump and geopolitical tensions. The future of payments is expected to be hybrid, with cash playing a crucial role alongside digital innovations.

The future of cash is shaped by geopolitical tensions, digital developments, monetary innovation and consumer preferences. Will cash remain a global stabilizer or fade into obsolescence? The answer lies in navigating uncertainty, regulation, and technological change. What future do we want for cash?

BRICS+’ digital UNIT—backed by gold and member currencies—aims to challenge dollar dominance in cross-border trade. BRICS’ symbolic R5 banknotes—unveiled at summits—hold no monetary value; the bloc’s planned UNIT will be purely digital.

The Netherlands are taking bold steps to future-proof cash: stricter access laws, frozen fees, and even mandatory acceptance. The new cash resilience plan—includes a war room for crises and a public campaign urging citizens to keep cash for emergencies. This is a blueprint for the future viability of cash.

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.