Tesco
The War on Cash
Article

The War on Cash

Brett Scott
TheLong+Short, 2016
Read the article

Read or listen offline

автоматическое преобразование текста в аудио
  • 0.5×
  • 0.75×
  • 1×
  • 1.25×
  • 1.5×
  • 1.75×
1×
автоматическое преобразование текста в аудио

Editorial Rating

8

Qualities

  • Overview
  • Background

Recommendation

You may think of card and electronic payments as conveniences. But beyond their practicality, the phasing out of cash in cities around the world has implications. Brett Scott, a journalist, financial activist and former broker in London, argues that a cashless society will undermine people’s privacy and limit their lifestyle choices. getAbstract recommends Scott’s passionate call for maintaining dual payment options to financial industry executives and concerned citizens.

Take-Aways

  • Credit card companies and electronic payment providers are forcefully promoting a low-cash economy, emphasizing the convenience and safety of new payment methods.
  • Similarly, governments favor cashless transactions as a way of hindering tax evasion and money laundering.
  • People using electronic payment methods leave a data trail that companies and governments could use to censor or influence citizens.

About the Author

Brett Scott is an independent journalist and campaigner based in London. He is the author of The Heretic’s Guide to Global Finance: Hacking the Future of Money.

Comment on this summary or Начать обсуждение