The decade ahead is one anticipated to be swept with technological disruption, as we are digitizing every aspect of our day-to-day lives. The way we pay for things makes no exception. Leading Financial analyst forecast that countries will most likely be moving towards a truly cashless society in the upcoming decade as the blockchain sector improves and as sovereign currencies are destroyed by to much debt, etc.
One of the driving forces in the push to cashless happens to be the ever increasing role of e-commerce which accounted for $3.5 trillion of worldwide sales in 2019, while smartphones are becoming ubiquitous even in the most underdeveloped countries. Banks are slowly closing down their brick-and-mortar branches in favor of going fully digital, and people in general are tired of waiting for days on end for international transactions to execute.
The excuse financial institutions will try to use as the reason will be that, “what is the point of cash anymore?” While it can still have its uses, especially between banks, physical money costs a lot to store, transfer and produce. Most coins produced are less valuable than the material used to make them. The truth is that paper money is the last line of financial sovereignty the people have. Once cash is gone then so does the last little bit of privacy you have to transact outside of big tech companies and the creators of currency.
As the world is moving towards this uncertain future, the articles below and the information shared in this RTD news update will give you more insights who the cashless leaders of the decade ahead will be.
RTD News keeps you up to date on what’s happening around the globe. Thanks for watching this important update, “The Top Ten Most Cashless Countries”. Visit https://www.rethinkingthedollar.com/dollarcation/ for more information on the future of the dollar.
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News Articles here:
1. The 10 most cashless countries in the world – where does the UK rank?
http://www.telegraph.co.uk/money/future-of-money/10-cashless-countries-world-does-uk-rank/
2. Canada At #1 In Ranking Of World’s Most Cashless Societies
http://www.huffingtonpost.ca/2017/10/11/canada-at-1-in-ranking-of-worlds-most-cashless-societies_a_23240067/
3. Money, Money, Money: Sweden to Become World’s First Cashless Society by 2023
https://sputniknews.com/europe/201710111058135760-sweden-cashless-society/
4. Worlds Most Cashless Countries Graphic (Forex.org)
http://www.forexbonuses.org/cashless-countries/
5. Will China Be the First Country to Go Cashless?
http://knowledge.ckgsb.edu.cn/2017/10/11/digital-economy/will-china-first-cashless-society/
6. The Visa Cashless Challenge
https://usa.visa.com/about-visa/cashless.html/
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