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Alternatives to Sleepwalking (or Stampeding) into a Cashless Society

Categories : Innovation contributes to the efficiency of cash
January 24, 2020
Published in : CashTech, Coins, Digital, Efficiency, Innovation
A new White Paper investigates the attitudes, challenges and concerns driven by the ever-increasing pace of society’s movement away from physical cash. It looks too at the innovations and developments that are taking place that may enable the benefits of cash to persist in a more digital world.
Guillaume Lepecq

Cash is a hot topic! The Access to Cash Review last year featured across national headlines in the UK and highlighted the importance cash still holds in society despite the growth of cashless alternatives. Whether for reasons of privacy, of its usefulness as a budgeting tool or simply the inaccessibility of other alternatives, many people rely on cash now, and will do so for the foreseeable future.

In this White Paper, Dr Ian Hunt provides an analysis of the contrasting perspectives on cash. He also looks at how innovative digital solutions may provide the key to the future of cash. He concludes that “The business models behind current digital payment solutions are generally incompatible with the societal needs currently served by physical cash. They eliminate some of the negative attributes of cash, but fail to retain the positive attributes of cash which lead to its enduring popularity.”

Dr Ian Hunt, author of the white paper, is a Non-Executive Director of Shrap, who will be participating in the CashTech Forum at the forthcoming Future of Cash Conference.

 

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