Cashless society getting closer, survey finds

Reuters ^ | Apr 26, 2017 | Jeremy Gaunt

[upchuck]

More than a third of Europeans and Americans would be happy to go without cash and rely on electronic forms of payment if they could, and at least 20 percent already pretty much do so, a study showed on Wednesday.

The study, which was conducted in 13 European countries, the United States and Australia, also found that in many places where cash is most used, people are among the keenest to ditch it.

Overall, 34 percent of respondents in Europe and 38 percent in the United States said they would be willing to go cash-free, according to the survey conducted by Ipsos for the ING bank website eZonomics.

Twenty-one percent and 34 percent in Europe and the United States, respectively, said they already rarely use cash.

[central_va]

What if they outlaw cash? How do anonymously pay?

[cornfedcowboy]

There you have it. Govt. will require a cashless society to reduce the illegal drug trade. You want to win the wars on drugs.....don’t you?

[upchuck]

What happens if there’s a power failure? Then you have no money. The “cashless” society is not ready for prime time.

I agree. But, in truth, in any power failure that lasts awhile (EMP), cash itself becomes valueless. Read The Next Second After or watch the movie The Road. In that movie, the man and the boy walk over cash bills, indicating no value.

[upchuck]

Bartering will become a hugh industry if cash is outlawed. Bartering has the advantage of no taxes. Because of that single reason, I don’t see us becoming cashless anytime soon.