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| benefits of a cashless society: Building a Cashless Society Niklas Arvidsson, 2019-02-22 This open access book tells the story of how Sweden is becoming a virtually cashless society. Its goal is to improve readers’ understanding of what is driving this transition, and of the factors that are fostering and hampering it. In doing so, the book covers the role of central banks, political factors, needs for innovation, and the stakeholders involved in developing a cashless ecosystem. Adopting a historical standpoint, and drawing on a unique dataset, it presents an academic perspective on Sweden’s leading role in this global trend. The global interest in the future of cash payments makes the Swedish case particularly interesting. As a country that is close to becoming a cashless economy, it offers a role model for many other countries to learn from - whether they want to stimulate or reduce the use of cash. This highly topical book will be of interest to politicians, researchers, businesses, financial service providers and payment service providers, as well as fintech start-ups, regulators and other authorities. |
| benefits of a cashless society: The Macroeconomics of De-Cashing Mr.Alexei P Kireyev, 2017-03-27 The paper presents a simple framework for the analysis of the macroeconomic implications of de-cashing. Defined as replacing paper currency with convertible deposits, de-cashing would affect all key macroeconomic sectors. The overall macreconomic impact of de-cashing would depend on the balance of growth-enhancing and growth-constraining factors. Starting from a traditional saving-investment balance, the paper develops a four-sector macroeconomic framework. It is purely illustrative and is designed to provide a roadmap for a systematic evaluation of de-cashing. The framework is disaggregated into the real, fiscal, monetary, and external sectors and potential implications of de-cashing are then identified in each sector. Finally, the paper draws a balance on possible positive and negative macroeconomic implications of de-cashing, and proposes policies capable of augmenting its economic and social benefits, while reducing potential costs. |
| benefits of a cashless society: The Book of Payments Bernardo Batiz-Lazo, Leonidas Efthymiou, 2016-12-04 This book examines the nature of retail financial transaction infrastructures. Contributions assume a long-term outlook in their exploration of the key financial processes and systems that support a global transition to a cashless economy. The volume offers both modern and historic accounts that demonstrate the constantly changing role of payment instruments. It brings together different theoretical approaches to the study, re-examining and forecasting changes in retail payment systems. Chapters explore a global transition to a cashless society and contemplate future alternatives to cash, cheques and plastic, featuring the perspectives of academics from different disciplines in conversation and industry participants from six continents. Readers are invited to discover the innovation in payment systems and how it co-evolves with changes in society and organisations through personal, corporate and governmental processes. |
| benefits of a cashless society: The Future of Money Eswar S. Prasad, 2021-09-28 A cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse. We think weÕve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live. Above all, Prasad foresees the end of physical cash. The driving force wonÕt be phones or credit cards but rather central banks, spurred by the emergence of cryptocurrencies to develop their own, more stable digital currencies. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations like Facebook and Amazon join the game. The changes will be accompanied by snowballing innovations that are reshaping finance and have already begun to revolutionize how we invest, trade, insure, and manage risk. Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. A lucid, visionary work, The Future of Money shows how to maximize the best and guard against the worst of what is to come. |
| benefits of a cashless society: Cloudmoney Brett Scott, 2022-07-05 The reach of Corporations into our lives via cards and apps has never been greater; many of us rarely use cash these days. But what we’re told is a natural and inevitable move is actually the work of powerful interests. And the great battle of our time is the battle for ownership of the digital footprints that make up our lives. In Cloudmoney, Brett Scott tells an urgent and revelatory story about how the fusion of Big Finance and Big Tech requires “cloudmoney”—digital money underpinned by the banking sector—to replace physical cash. He dives beneath the surface of the global financial system to uncover a long-established lobbying infrastructure: an alliance of partners waging a covert war on cash. He explains the technical, political, and cultural differences between our various forms of money and shows how the cash system has been under attack for decades, as banking and tech companies promote a cashless society under the banner of progress. Cloudmoney takes us to the front lines of a war for our wallets that is also about our freedom, from marketing strategies against cash to the weaponization of COVID-19 to push fintech platforms, and from there to the rise of the cryptocurrency rebels and fringe groups pushing back. It asks the most pressing questions: Who benefits from a cashless society and who gets left behind? Is the end of cash the end of true privacy? And is our cloudmoney future closer than we think it is? |
| benefits of a cashless society: Proceedings of the 3rd International Symposium of Information and Internet Technology (SYMINTECH 2018) Mohd Azlishah Othman, Mohamad Zoinol Abidin Abd Aziz, Mohd Shakir Md Saat, Mohamad Harris Misran, 2019-05-15 This book gathers the proceedings of a symposium on the role of Internet technologies and how they can transform and improve people’s lives. The Internet is essentially a massive database where all types of information can be shared and transmitted. This can be done passively in the form of non-interactive websites and blogs; or it can be done actively in the form of file sharing and document up- and downloading. Thanks to these technologies, a wealth of information is now available to anyone who can access the Internet. Moreover, Internet technologies are constantly improving: growing faster, offering more diverse information, and supporting processes that would have been impossible in the past. As a result, they have changed, and will continue to change, the way that the world does business and how people interact in their day-to-day lives. In conclusion, the symposium and these proceedings provide a valuable opportunity for leading researchers, engineers and professionals around the globe to discuss the latest advances that are helping the world move forward. They also facilitate the exchange of new ideas in the fields of communication technology to create a dialogue between these groups concerning the latest innovations, trends and concerns, practical challenges and potential solutions in the field of Internet technologies. |
| benefits of a cashless society: The End of Money David Wolman, 2013-08-13 For ages, money has meant little metal disks and rectangular slips of paper. Yet the usefulness of physical money -- to say nothing of its value -- is coming under fire as never before. Intrigued by the distinct possibility that cash will soon disappear, author and Wired contributing editor David Wolman sets out to investigate the future of money...and how it will affect your wallet. Wolman begins his journey by deciding to shun cash for an entire year -- a surprisingly successful experiment (with a couple of notable exceptions). He then ventures forth to find people and technologies that illuminate the road ahead. In Honolulu, he drinks Mai Tais with Bernard von NotHaus, a convicted counterfeiter and alternative-currency evangelist whom government prosecutors have labeled a domestic terrorist. In Tokyo, he sneaks a peek at the latest anti-counterfeiting wizardry, while puzzling over the fact that banknote forgers depend on society's addiction to cash. In a downtrodden Oregon town, he mingles with obsessive coin collectors -- the people who are supposed to love cash the most, yet don't. And in rural Georgia, he examines why some people feel the end of cash is Armageddon's warm-up act. After stops at the Digital Money Forum in London and Iceland's central bank, Wolman flies to Delhi, where he sees first-hand how cash penalizes the poor more than anyone--and how mobile technologies promise to change that. Told with verve and wit, The End of Money explores an aspect of our daily lives so fundamental that we rarely stop to think about it. You'll never look at a dollar bill the same again. |
| benefits of a cashless society: The Shadow Economy Friedrich Schneider, Dominik H. Enste, 2013-02-14 This book presents new data to give an overview of shadow economies from OECD countries and propose solutions to prevent illicit work. |
| benefits of a cashless society: TRUST THE CASHLESS SOCIETY || MR. BIG WEALTH || 2023 MR. BIG WEALTH, 2023-12-07 Step into the future of finance with Mr. Big Wealth. Join the cashless revolution today! 💸🌍 #cashless #mrbigwealth #futureofmoney ____ Transactions, the concept of a cashless society is becoming more and more relevant. Introducing MR. BIG WEALTH: CASHLESS SOCIETY NEWS REPORT, a comprehensive report that delves into the compelling case for embracing a cashless society. This report is your ultimate guide to understanding the benefits and challenges associated with transitioning from traditional cash-based transactions to digital alternatives. Unleashing the Future: The Compelling Case for a Cashless Society explores the positive impact that a cashless society can have on individuals, businesses, and economies. From increased convenience and security to enhanced financial inclusivity, this report showcases how embracing digital transactions can revolutionize the way we interact with money. With insightful analysis, expert opinions, and real-life examples, MR. BIG WEALTH: CASHLESS SOCIETY NEWS REPORT equips you with the knowledge and understanding needed to navigate the ever-changing financial landscape. Stay ahead of the curve and make informed decisions about your financial future. Join the movement towards a cashless society and unlock the potential of digital transactions. Order your copy of MR. BIG WEALTH: CASHLESS SOCIETY NEWS REPORT today and embrace the future of finance. |
| benefits of a cashless society: The Blockchain Alternative Kariappa Bheemaiah, 2017-02-26 Examine what would happen if we were to deploy blockchain technology at the sovereign level and use it to create a decentralized cashless economy. This book explains how finance and economics work today, and how the convergence of various technologies related to the financial sector can help us find solutions to problems, such as excessive debt creation, banks getting too big to fail, and shadow banking. The Blockchain Alternative offers sensible corrections to outdated and incorrect dogmas, such as the efficient markets hypothesis and rational expectations theory. You’ll also be introduced to universal basic income, the consequences of going cashless, why complexity economics needs to be understood and what kinds of tools and theories you'll need to redefine the existing definition of capitalism. While the book does discuss technologies and methods that are primed for our future, a number of references are made to economic history and the works of great thinkers from a different era. You’ll see how the blockchain can be used to deploy solutions that were devised in the past, but which can serve as the antidote to our current economic malaises. You'll discover that what is required today is not an adaptation of the old theories, but a new methodology that is suited to this new era. Without undertaking such an endeavor, one will always be burdened with a definition of capitalism that is out of kilter with the evolution of our digital humanity. What would this mean to monetary and fiscal policy, market structure and our current understanding of economics? More importantly would we need to change our current understanding of capitalism? And if we were to change our perceptions, what would the future version look like? This book answers these questions, and analyses some of the most pertinent issues of our generation. What You’ll Learn Examine fractional banking, debt, and the financialization of assets Gain a firm understanding of the “too big to fail” theory, smart contracts, and Fintech Review economics and agent-based modelling Use the blockchain and complexity economics to rethink economics and capitalistic systems Who This Book Is For The primary audience is bankers and other finance professionals, policy makers, and students of finance and economics. The secondary audience is anyone seeking a deeper understanding of the current financial system, the blockchain, and the future of capitalism. Praise for The Blockchain Alternative “...a bold and pioneering effort to make sense of how emerging digital technologies might be used to reshape public policies, including macroeconomic and social policies, in basic ways. Everyone interested in this very important emerging question should read this book. - Dr. Sanjay G. Reddy, Associate Professor of Economics at The New School for Social Research and Research Associate of the Initiative for Policy Dialogue at Columbia University. “Writing on blockchain today is analogous to writing about the internet, before it became massively distributed. The book pushes us to think about the quantum leap that this technology may infer to our capitalist model, if scaled at the pace described by the book. Written with the support of strong empirical models but also with an open mind towards the future, this is a must read for anyone interested in becoming part of the new economic infrastructure” - Dr. Mark Esposito, Harvard University’s Division of Continuing Education & Judge Business School, University of Cambridge “With a rigorously balanced dosage of versatility and rationale we are allured into a multifaceted trajectory across ingrained yet functionally arcane economic models, only to plunge into a conceptually revolutionary realm which irreversibly stimulates us into envisaging a fascinating novel scheme of world order”. - Ioana Surpateanu, Political Adviser to the European Parliament “If there is only one book that I am reading on how blockchain is going to change our lives, it will have to be The Blockchain Alternative. - Dr. Terence Tse, Associate Professor of Finance, ESCP Europe Business School |
| benefits of a cashless society: From Behind the Mask Pam Warren, 2014-03-04 She was not expected to survive. She became the lady in the mask. In October 1999, Pam Warren's life was turned on its head when she sustained horrific injuries in the Paddington rail crash. The casualties numbered thirty-one dead and over five hundred injured. Pam underwent scores of operations to rebuild her burnt body, and had to wear a plastic mask over her face for twenty-three hours a day over an eighteen-month period. Unwittingly, she became the public face of the disaster. Over a decade on from that terrible event, From Behind the Mask charts the true inside story of Pam's journey from victim to survivor and campaigner. Following the crash she became the UK's leading spokesperson for improving rail safety, battling with rail management executives and the government - and winning. She was branded a troublemaker, but Pam and fellow members of the Paddington Survivors' Group helped bring about great improvements on our railways. For years Pam remained focused on that campaign. Now, for the first time, she can tell us all what really happened. It is an inspirational story of determination and courage. |
| benefits of a cashless society: The (near) Future of Central Bank Digital Currencies Nicola Bilotta, Fabrizio Botti, 2021-02-26 The value of global cashless payments has been radically increasing worldwide. Despite cash being the most used payment instrument in the world, technological innovation and new consumer preferences are decisively transforming the way consumers pay and manage money. The COVID-19 pandemic may also have been an accelerator of the cashless mega-trend. Private players currently dominate the digital payment ecosystem, urging central banks to seek solutions to ensure public access to legal tender if cash is phased out. In this context, the idea of a Central Bank Digital Currency (CBDC) is gaining momentum. Nevertheless, there is a need to better understand the implications in terms of risks, benefits and potential costs of CBDCs. From privacy concerns to macroeconomic effects, these implications blur the boundaries of the payment and financial systems, challenging the core functions of our economy and society. |
| benefits of a cashless society: The Curse of Cash Kenneth S. Rogoff, 2017-06-27 “A brilliant and lucid new book” (John Lanchester, New York Times Magazine) about why paper money and digital currencies lie at the heart of many of the world’s most difficult problems—and their solutions In The Curse of Cash, acclaimed economist and bestselling author Kenneth Rogoff explores the past, present, and future of currency, showing why, contrary to conventional economic wisdom, the regulation of paper bills—and now digital currencies—lies at the heart some of the world’s most difficult problems, but also their potential solutions. When it comes to currency, history shows that the private sector often innovates but eventually the government regulates and appropriates. Using examples ranging from the history of standardized coinage to the development of paper money, Rogoff explains why the cryptocurrency boom will inevitably end with dominant digital currencies created and controlled by governments, regardless of what Bitcoin libertarians want. Advanced countries still urgently need to stem the global flood of large paper bills—the vast majority of which serve no legitimate purpose and only enable tax evasion and other crimes—but cryptocurrencies are like $100 bills on steroids. The Curse of Cash is filled with revealing insights about many of the most pressing issues facing monetary policymakers, from quantitative easing to alternative inflation targeting regimes. It also explains in detail why, if low interest rates persist, the best way to reinvigorate monetary policy is to implement fully effective and unconstrained negative interest rates. Provocative, engaging, and backed by compelling original arguments and evidence, The Curse of Cash has sparked widespread debate and its ideas have moved to the center of financial and policy discussions. |
| benefits of a cashless society: Computers and Banking Kent W. Colton, 2013-03-09 Electronic funds transfer (EFT) systems include a wide range of computer-based payment systems and sources that substitute electronic and digital transfers for movements of cash and paper checks. A few years ago some people were predict ing that EFT would replace paper money and coins entirely and that we would soon be a checkless and' 'cashless society. Such sweeping changes have not occurred, but a slower evolution is clearly underway. Although checks, cur rency, and coin are likely to be here for many years to come, EFT is becoming an established part of our worldwide payment transfer system, and the implications and consequences of this technology are real. They include: • Alterations in personal finance and in the process of purchasing and paying for consumer goods and services. • Changes in the structure of financial and retail organizations and their mode of interaction in the marketplace. • Modifications in the flow of funds in our society and in the interactions among economic institutions. • Alterations in the prospects for invasion of personal privacy, perpetration of fraud and theft, and violation of antitrust regulations. • Changes in the regulatory and competitive balance among the numerous financial institutions in the United States. Such alterations foretell important impacts on people and society. Benefits are forthcoming, but the costs will also be real. |
| benefits of a cashless society: Handbook on 3D3C Platforms Yesha Sivan, 2015-11-04 This book presents 3D3C platforms – three-dimensional systems for community, creation and commerce. It discusses tools including bots in social networks, team creativity, privacy, and virtual currencies & micropayments as well as their applications in areas like healthcare, energy, collaboration, and art. More than 20 authors from 10 countries share their experiences, research fi ndings and perspectives, off ering a comprehensive resource on the emerging fi eld of 3D3C worlds. The book is designed for both the novice and the expert as a way to unleash the emerging opportunities in 3D3C worlds. This Handbook maps with breadth and insight the exciting frontier of building virtual worlds with digital technologies. David Perkins, Research Professor, Harvard Graduate School of Education This book is from one of the most adventurous and energetic persons I have ever met. Yesha takes us into new undiscovered spaces and provides insight into phenomena of social interaction and immersive experiences that transform our lives. Cees de Bont, Dean of School of Design & Chair Professor of Design, School of Design of the Hong Kong Polytechnic University When you read 3D3C Platforms you realize what a domain like ours -- 3D printing -- can and should do for the world. Clearly we are just starting. Inspiring. David Reis, CEO, Stratasys Ltd This book provides a stunning overview regarding how virtual worlds are reshaping possibilities for identity and community. Th e range of topics addressed by the authors— from privacy and taxation to fashion and health care—provide a powerful roadmap for addressing the emerging potential of these online environments. Tom Boellstorff , Professor, Department of Anthropology, University of California, Irvine Handbook on 3D3C Platforms amassed a unique collection of multidisciplinary academic thinking. A primer on innovations that will touch every aspect of the human community in the 21st century. Eli Talmor, Professor, London Business School |
| benefits of a cashless society: The World Bank Research Observer , 2003 |
| benefits of a cashless society: Cashless Richard Turrin, 2021-04-16 Cashless dives into the design and use of China's new central bank digital currency. |
| benefits of a cashless society: The Heretic's Guide to Global Finance Brett Scott, 2013-05-14 Popular anger against bankers and financial speculators has never been greater, yet the practical workings of the system remain opaque to many people. The Heretic's Guide to Global Finance aims to bridge the gap between protest slogans and practical proposals for reform. As a stockbroker turned campaigner, Brett Scott has a unique understanding of life inside and outside the system. The Heretic's Guide to Global Finance is a practical handbook for campaigners, academics and students who wish to deepen their understanding of the inner workings of the financial sector. It shows how financial knowledge can be used to build effective social and environmental campaigns. Scott covers topics frequently overlooked, such as the cultural aspects of the financial sector, and considers major issues such as agricultural speculation, carbon markets and tar sands financing. The book shows how activists can use the internal dynamics of the sector to reform it and showcases the growing alternative finance movement. |
| benefits of a cashless society: The Global Findex Database 2017 Asli Demirguc-Kunt, Leora Klapper, Dorothe Singer, Saniya Ansar, 2018-04-19 In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex. |
| benefits of a cashless society: Choice Hacking Jennifer L. Clinehens, 2020-06-16 What if you could use Nobel prize-winning science to predict the choices your customers will make? Customer and user behaviors can seem irrational. Shaped by mental shortcuts and psychological biases, their actions often appear random on the surface. In Choice Hacking, we'll learn to predict these irrational behaviors and apply the science of decision-making to create unforgettable customer experiences. Discover a framework for designing experiences that doesn't just show you what principles to apply, but introduces a new way of thinking about customer behavior. You'll finish Choice Hacking feeling confident and ready to transform your experience with science. In Choice Hacking, you'll discover: - How to make sure your customer experience is designed for what people do (not what they say they'll do) - How to increase the odds that customers will make the right choice in any environment - How to design user experiences that drive action and engagement - How to create retail experiences that persuade and drive brand love - How brands like Uber, Netflix, Disney, and Starbucks apply these principles in their customer and user experiences Additional resources included with the book: - Access to free video Companion Course - Access to exclusive free resources, tools, examples, and use cases online Who will benefit from reading Choice Hacking? This book was written for anyone who wants to better understand customer and user decision-making. Whether you're a consultant, strategist, digital marketer, small business owner, writer, user experience designer, student, manager, or organizational leader, you will find immediate value in Choice Hacking. About the Author Jennifer Clinehens is currently Head of Experience at a major global experience agency. She holds a Master's degree in Brand Management as well as an MBA from Emory University's Goizueta School. Ms. Clinehens has client-side and consulting experience working for brands like AT&T, McDonald's, and Adidas, and she's helped shape customer experiences across the globe. A recognized authority in marketing and customer experience, she is also the author of CX That Sings: An Introduction To Customer Journey Mapping. To learn more about this book or contact the author, please visit ChoiceHacking.com |
| benefits of a cashless society: The Moneyless Man Mark Boyle, 2010-06-01 The astonishing reality of living without our most important resource: money. 'An inspiring and entertaining guide to escaping the money trap and reconnecting with reality.' Paul Kingsnorth, author of Real England Imagine a year living without spending money... Former businessman Mark Boyle undertook this extraordinary challenge and recounts the amazing adventure it led him on. Going back to basics and following his own strict rules, Mark learned ingenious ways to eliminate his bills and discovered that friendship has no price. Encountering seasonal foods, solar panels, skill-swapping schemes, caravans, compost toilets, and – the unthinkable – a cash-free Christmas, Boyle puts the fun into frugality and offers some great tips for economical (and environmentally friendly) living. A testament to Mark’s astounding determination, this witty and thought-provoking book will make you reevaluate what is most precious in life. |
| benefits of a cashless society: Expressing America George Ritzer, 1995-02-09 The explosive growth of consumer credit, as well as the shift from cash to plastic in societies throughout the world signals a transformation in social relations, which is the focus of this book. For student readers who know the world of credit cards all too well, this is a great way to interest and educate them on the power of thinking sociologically. |
| benefits of a cashless society: Before Babylon, Beyond Bitcoin David Birch, 2017-06-15 Technology is changing money: it has been transformed from physical objects to intangible information. With the arrival of smart cards, mobile phones and Bitcoin it has become easier than ever to create new forms of money. Crucially, money is also inextricably connected with our identities. Your card or phone is a security device that can identify you – and link information about you to your money. To see where these developments might be taking us, David Birch looks back over the history of money, spanning thousands of years. He sees in the past, both recent and ancient, evidence for several possible futures. Looking further back to a world before cash and central banks, there were multiple ‘currencies’ operating at the level of communities, and the use of barter for transactions. Perhaps technology will take us back to the future, a future that began back in 1971, when money became a claim backed by reputation rather than by physical commodities of any kind. Since then, money has been bits. The author shows that these phenomena are not only possible in the future, but already upon us. We may well want to make transactions in Tesco points, Air Miles, Manchester United pounds, Microsoft dollars, Islamic e-gold or Cornish e-tin. The use of cash is already in decline, and is certain to vanish from polite society. The newest technologies will take money back to its origins: a substitute for memory, a record of mutual debt obligations within multiple overlapping communities. This time though, money will be smart. It will be money that reflects the values of the communities that produced it. Future money will know where it has been, who has been using it and what they have been using it for. |
| benefits of a cashless society: Handbook of Research on Social Impacts of E-payment and Blockchain Technology P. C. Lai, 2021-10 This book provides broad research and applied coverage of subjects relating to the social impact of e-payment and blockchain in various industries and countries establishing a forum for the exchange of research ideas and practices,-- |
| benefits of a cashless society: The Money Laundry J. C. Sharman, 2011-10-15 A generation ago not a single country had laws to counter money laundering; now, more countries have standardized anti–money laundering (AML) policies than have armed forces. In The Money Laundry, J. C. Sharman investigates whether AML policy works, and why it has spread so rapidly to so many states with so little in common. Sharman asserts that there are few benefits to such policies but high costs, which fall especially heavily on poor countries. Sharman tests the effectiveness of AML laws by soliciting offers for just the kind of untraceable shell companies that are expressly forbidden by global standards. In practice these are readily available, and the author had no difficulty in buying the services of such companies. After dealing with providers in countries ranging from the Seychelles and Somalia to the United States and Britain, Sharman demonstrates that it is easier to form untraceable companies in large rich states than in small poor ones; the United States is the worst offender. Despite its ineffectiveness, AML policy has spread via three paths. The Financial Action Task Force, the key standard-setter and enforcer in this area, has successfully implemented a strategy of blacklisting to promote compliance. Publicly identified as noncompliant, targeted states suffered damage to their reputation. Subsequently, officials from poor countries became socialized within transnational policy networks. Finally, international banks began using the presence of AML policy as a proxy for general country risk. Developing states have responded by adopting this policy as a functionally useless but symbolically valuable way of reassuring powerful outsiders. Since the financial crisis of 2008, the G20 has used the successful methods of coercive policy diffusion pioneered in the AML realm as a model for other global governance initiatives. |
| benefits of a cashless society: Borrow Louis Hyman, 2012-01-24 In this lively history of consumer debt in America, economic historian Louis Hyman demonstrates that today’s problems are not as new as we think. Borrow examines how the rise of consumer borrowing—virtually unknown before the twentieth century—has altered our culture and economy. Starting in the years before the Great Depression, increased access to money raised living standards but also introduced unforeseen risks. As lending grew more and more profitable, it displaced funds available for business borrowing, setting our economy on an unsustainable course. Told through the vivid stories of individuals and institutions affected by these changes, Borrow charts the collision of commerce and culture in twentieth-century America, giving an historical perspective on what is new—and what is not—in today’s economic turmoil. A Paperback Original |
| benefits of a cashless society: Cashless Society Explained IntroBooks Team, A cashless society defines an economic environment in which financial transactions are not performed through money by way of bank currencies or coins, but rather by exchanging digital data (typically an electronic expression of money) between the transacting parties. Cashless societies have had come into being since the time of the evolution of human civilization, based on barter and other trading practices, and cashless transfers have now become viable in modern times, leveraging digital currencies, including bitcoin. However, one tends to explore and focus on the concept of a cashless society in the context of moving towards a society where cash is substituted by its digital counterpart, i.e., legal tender money, which is captured, and only transmitted in digital electronic format. Such a theory has been discussed at length, notably as the world is undergoing a substantial and phenomenal use of digital ways of capturing, controlling, and transacting in trade, investment, and day to day life in several parts all across the globe and transactions that would have traditionally been conducted with cash are now often executed electronically or digitally. |
| benefits of a cashless society: A Cash-Free Society Kai A. Olsen, 2018-08-10 Information technology is changing the world through automation, by bypassing middlemen and by digitization. We see dramatic effects today in the music industry, going from CDs to streaming, in newspapers, from paper to online, and in the banking industry, from branch offices to the Internet. One of the most fundamental changes is the replacement of physical cash, money and coins, by bits in a computer. A Cash-Free Society is about this dramatic change. It shows the advantages and disadvantages and discuss how we – consumers, businesses and the society -can prepare for a new world where cash is no longer king. Banks are closing down branch offices and removing cash services. Customers wishing to withdraw money as cash are directed to ATMs. But the number of ATMs is declining. Mobile payments, either for paying bills or for person to person transactions will be the last nail in the coffin for cash . These changes are fed by the overwhelming advantages, both for consumers and businesses, to electronic payments. In the countries that lead this transition to a digital economy, Iceland, Norway, Sweden and Denmark, nearly all transactions, both in volume and number, are digital. Today less than 3 percent of consumer payments are in cash in Norway. Though there are some disadvantages, there are clear benefits: cheaper transactions, less crime, simpler tax processing and it will become more difficult to operate in the black-market economy. |
| benefits of a cashless society: Working Effectively with Legacy Code Michael Feathers, 2004-09-22 Get more out of your legacy systems: more performance, functionality, reliability, and manageability Is your code easy to change? Can you get nearly instantaneous feedback when you do change it? Do you understand it? If the answer to any of these questions is no, you have legacy code, and it is draining time and money away from your development efforts. In this book, Michael Feathers offers start-to-finish strategies for working more effectively with large, untested legacy code bases. This book draws on material Michael created for his renowned Object Mentor seminars: techniques Michael has used in mentoring to help hundreds of developers, technical managers, and testers bring their legacy systems under control. The topics covered include Understanding the mechanics of software change: adding features, fixing bugs, improving design, optimizing performance Getting legacy code into a test harness Writing tests that protect you against introducing new problems Techniques that can be used with any language or platform—with examples in Java, C++, C, and C# Accurately identifying where code changes need to be made Coping with legacy systems that aren't object-oriented Handling applications that don't seem to have any structure This book also includes a catalog of twenty-four dependency-breaking techniques that help you work with program elements in isolation and make safer changes. |
| benefits of a cashless society: Everyday Sociology Reader Karen Sternheimer, 2020-04-15 Innovative readings and blog posts show how sociology can help us understand everyday life. |
| benefits of a cashless society: The benefits of cash Malte Krueger, Franz Seitz, 2017-08-04 Cash is an exciting and important topic, which has become the subject of extensive debate, especially of late. Cash is also the frequent target of criticism, with claims that it is inefficient, expensive, fosters the shadow economy and impairs the effect of monetary policy measures. Yet despite all of this criticism and the discussion over its future, at just under 80% of all point-of-sale transactions, cash remains the most significant means of payment for the German population. An analysis in which the costs and benefits of cash are considered on an equal footing is an essential foundation for a factual discussion about cash. While much attention is paid to the cost aspects, the benefits of cash are usually given less consideration in the relevant literature. This state of affairs led the Bundesbank to commission an external study analysing payment instruments in Germany – with a particular focus on cash payments – and evaluating their associated costs and benefits. The first part of the study, “Overview and initial estimates”, published in 2014, provides a critical overview of the literature on cost calculations and the significance of payment transactions in various countries. This module also provides an independent account of the importance and cost of cash and cashless payment instruments for the national economy. This second module of the study focuses especially on the benefits of cash. The authors describe the microeconomic, macroeconomic and societal benefits of cash. Against this backdrop, this study attempts to systematically capture the benefits, without providing a quantitative assessment. In addition, it goes into explicit detail about the aforementioned arguments put forward by critics of cash as well as the drawbacks and consequences of abolishing cash. To achieve an overall picture of the costs and benefits of cash, the costs generated by the use of cash are to be quantified in the study's planned third module. |
| benefits of a cashless society: $2.00 a Day Kathryn Edin, H. Luke Shaefer, 2015 The story of a kind of poverty in America so deep that we, as a country, don't even think exists--from a leading national poverty expert who defies convention (New York Times) |
| benefits of a cashless society: Gender Perspectives on Industry 4.0 and the Impact of Technology on Mainstreaming Female Employment Shashi Bala, Puja Singhal, 2022-01-07 Almost all economies have, or are at least starting to, understand the significance of examining and mainstreaming gender issues in the world of work. Sociocultural evolution and various other factors have helped these developments, but there is still so much more work to be done. Technology has played a substantial role in decreasing the gender divide as more households than ever before have access to technology, and the revolution of access to information across most societies has become gender neutral and empowering. While technology can hold the potential to significantly expand the job market and open opportunities for all job seekers, questions surrounding automation and availability of jobs and the accessibility to secure the necessary qualifications and education needed to fill paid jobs rage on, especially when examining those who are typically marginalized. Gender Perspectives on Industry 4.0 and the Impact of Technology on Mainstreaming Female Employment discusses gender perspective and its impact on the fourth industrial revolution, particularly in the realm of employment structure, and analyzes the impact of technology on mainstreaming women in paid employment. In the present environment, organizations are beginning to realize the importance of looking more critically at their workforce and structure and how to better cater to the diversity, equity, and inclusion movement while also productively managing the advancement of new technologies. Covering topics such as sustainable development and the future of work, it is ideal for policymakers, practitioners, professionals, consultants, managers, researchers, academicians, educators, and students. |
| benefits of a cashless society: The Cashless Society August Bequai, 1981 |
| benefits of a cashless society: Central Banks as Fiscal Players Willem Buiter, 2020-11-12 It is well known that the balance sheets of most major central banks significantly expanded in the aftermath of the financial crisis of 2007-2011, but the consequences of this expansion are not well understood. This book develops a unified framework to explain how and why central bank balance sheets have expanded and what this shift means for fiscal and monetary policy. Buiter addresses a number of key issues in monetary economics and public finance, including how helicopter money works, when modern monetary theory makes sense, why the Eurosystem has a potentially fatal design flaw, why the fiscal theory of the price level is a fallacy and how to escape from the zero lower bound. |
| benefits of a cashless society: The European Central Bank Jakob De Haan, Sylvester C. W. Eijffinger, Sandra Waller, 2005-04-15 An examination of the debates on European Central Bank monetary policy, focusing on issues of transparency, credibility, and accountability and the effect of the ECB's decentralized structure. The adoption of the euro in 1999 by 11 member states of the European Union created a single currency area second in economic size only to the United States. The euro zone's monetary policy is now set by the European Central Bank (ECB) and its Governing Council rather than by individual national central banks. This CESifo volume examines issues that have arisen in the first years of ECB monetary policy and analyzes the effect that current ECB policy strategy and structures may have in the future. After a detailed description and assessment of ECB monetary policy making that focuses on such issues as price stability and the predictability of policy decisions, the book turns to two important issues faced by European central bankers: the transparency and credibility of decision making and the ECB's decentralized structure. After showing that transparency in decision making enhances credibility, the book discusses the ECB's efforts at openness, its political independence as guaranteed by law, and its ultimate accountability. The book then considers the effects of the decentralized ECB structure, focusing on business cycle synchronization, inflation differentials, and differences in monetary policy transmission in light of the enlargement of the monetary union. The book also discusses options for ECB institutional reforms, including centralization, vote weighting, and cross-border regional banks. |
| benefits of a cashless society: The Rise of Public and Private Digital Money International Monetary Fund, 2021-07-29 Following the companion paper on the new policy challenges related to the adoption of digital forms of money, this paper presents an operational strategy for the IMF to continue delivering on its mandate of ensuring domestic and international financial and economic stability. The paper begins by summarizing the forces driving the adoption of digital forms of money, and the new policy questions that emerge. It then focusses on how the IMF’s core activities and output will need to evolve, including surveillance, capacity development, and analytical foundations. It ends by discusses how the IMF intends to partner with other organization, and to grow and structure internal resources to fulfill this vision. |
| benefits of a cashless society: Debtor Nation Louis Hyman, 2011-01-03 The story of personal debt in modern America Before the twentieth century, personal debt resided on the fringes of the American economy, the province of small-time criminals and struggling merchants. By the end of the century, however, the most profitable corporations and banks in the country lent money to millions of American debtors. How did this happen? The first book to follow the history of personal debt in modern America, Debtor Nation traces the evolution of debt over the course of the twentieth century, following its transformation from fringe to mainstream—thanks to federal policy, financial innovation, and retail competition. How did banks begin making personal loans to consumers during the Great Depression? Why did the government invent mortgage-backed securities? Why was all consumer credit, not just mortgages, tax deductible until 1986? Who invented the credit card? Examining the intersection of government and business in everyday life, Louis Hyman takes the reader behind the scenes of the institutions that made modern lending possible: the halls of Congress, the boardrooms of multinationals, and the back rooms of loan sharks. America's newfound indebtedness resulted not from a culture in decline, but from changes in the larger structure of American capitalism that were created, in part, by the choices of the powerful—choices that made lending money to facilitate consumption more profitable than lending to invest in expanded production. From the origins of car financing to the creation of subprime lending, Debtor Nation presents a nuanced history of consumer credit practices in the United States and shows how little loans became big business. |
| benefits of a cashless society: The Future of Financial Systems in the Digital Age Markus Heckel, Franz Waldenberger, 2022-03-09 This book is open access, which means that you have free and unlimited access. The increasing capacity of digital networks and computing power, together with the resulting connectivity and availability of “big data”, are impacting financial systems worldwide with rapidly advancing deep-learning algorithms and distributed ledger technologies. They transform the structure and performance of financial markets, the service proposition of financial products, the organization of payment systems, the business models of banks, insurance companies and other financial service providers, as well as the design of money supply regimes and central banking. This book, The Future of Financial Systems in the Digital Age: Perspectives from Europe and Japan, brings together leading scholars, policymakers, and regulators from Japan and Europe, all with a profound and long professional background in the field of finance, to analyze the digital transformation of the financial system. The authors analyze the impact of digitalization on the financial system from different perspectives such as transaction costs and with regard to specific topics like the potential of digital and blockchain-based currency systems, the role of algorithmic trading, obstacles in the use of cashless payments, the challenges of regulatory oversight, and the transformation of banking business models. The collection of chapters offers insights from Japanese and European discourses, approaches, and experiences on a topic otherwise dominated by studies about developments in the USA and China. |
| benefits of a cashless society: Macroeconomics for Professionals Leslie Lipschitz, Susan Schadler, 2019-01-23 Understanding macroeconomic developments and policies in the twenty-first century is daunting: policy-makers face the combined challenges of supporting economic activity and employment, keeping inflation low and risks of financial crises at bay, and navigating the ever-tighter linkages of globalization. Many professionals face demands to evaluate the implications of developments and policies for their business, financial, or public policy decisions. Macroeconomics for Professionals provides a concise, rigorous, yet intuitive framework for assessing a country's macroeconomic outlook and policies. Drawing on years of experience at the International Monetary Fund, Leslie Lipschitz and Susan Schadler have created an operating manual for professional applied economists and all those required to evaluate economic analysis. |
The impact of cashless societies on business and society
Past research has shown that cashless transactions offer a variety of benefits such as increased efficiency, convenience, and security. For example, electronic payments eliminate the need for …
The World Moving Towards A Cashless Society - International …
ADVANTAGES OF A CASHLESS SOCIETY. Reduced business risks and costs Cashless payments eliminate several risks, including counterfeit money (though stolen cards are still a risk), theft of …
A Case Study to A Cashless Society- Benefits, Risks and Issues …
For a cashless ecosystem to exist, it needs to enable the transfer of funds between people, the purchase of goods and services between people and businesses and the provision of and …
Economic Benefits of Going Cashless - Malaysian Electronic …
Several studies and surveys1 indicate that there are substantial economic benefits of going cashless for government, consumers and businesses. For an emerging economy like Malaysia, the study …
A cashless society: benefits, risks, and issues - JSTOR
In section 3, we talk about the benefits of a cashless society. Now, the cost of handling cash is enormous, and it varies as a percentage of GDP across the world.
Adoption of Cashless Economy in the World: A Review - IOSR …
Various types of cashless payments were thoroughly discussed by using several peer reviewed articles, thesis, and e-books. It explores the adoption of cashless, perceived benefits, and …
Society's Growing Preference for Cashless Transactions Over …
Sep 30, 2024 · Cashless transactions offer enhanced convenience, speed, and security, reducing the risks associated with carrying cash, such as theft or loss. Moreover, cashless payments …
The Economic Importance of Cashless Society Christian …
Nov 16, 2021 · Major benefits of a cashless society Reduced costs and business risks Cashless payments eliminate several business risks at a time such as theft of cash by employees, …
Should We Move to a Mostly Cashless Society? - Scholars at …
In the underground economy, cash plays a big, well-established role for which there is no remotely perfect substitute in terms of liquidity and universal acceptance. That’s why reducing the supply …
Why benefits of a cashless society may be overrated - Phys.org
The chief concern is that cashless payment systems discriminate against the "unbanked" – those without a bank account – making life harder for those already on the margins.
The Cashless Society in Practice - Göteborgs universitet
It is based on an in-depth study of how the idea about a cashless society is translated and unfolded in practice, by a bank’s actor network. The case study was done at one of the largest private …
Benefits, Challenges and Modes in Cashless Economy in India
Transparency, scalability, and accountability are all improved by digital or cashless transactions. This article focuses on the concept of a cashless economy, as well as its benefits and drawbacks, …
A Cashless Society
The paper then considers the potential benefits of a cashless society. Cash is an expensive business, from production to handling. Going cashless may also prevent some illegal immigration, …
CASHLESS ECONOMY AND DIGITALIZATION: A STUDY OF …
bring several benefits that can positively impact a country's economy and make commerce easier, more efficient, and faster. The path towards a cashless society involves the development of a …
Charles University Faculty of Social Sciences - cuni.cz
discusses the process of transition to cashless society by identifying transformation stages and the barriers faced to undertake the shift. Subsequently, the links between factors as business …
The Move Toward a Cashless Society: A Closer Look at …
Our study is the first to empirically examine the move toward a cashless society using benefits as well as costs. A deeper understanding of the economics of payment instruments could have …
The Future Of Payment Systems: Innovations, Challenges, And ...
The findings highlight that while cashless systems offer significant benefits in terms of transaction efficiency, financial inclusion, and transparency, there is a need for comprehensive strategies to …
Cashless Society: Cross-Country Comparison of Key Drivers
move towards a Cashless Society from an empirical and holistic perspective. The purpose of this thesis is to identify the main drivers that lead to a Cashless Society, as well as the interaction …
Issue 21- Environmental Sustainability of a Cashless Society
The interim paper “ A Cashless Society: Benefits, Risks and Issues” assessed a number of key economic aspects with a view to balance the arguments, and documented a log of 20 risks and …
What Would a Cashless Society Mean for Asian Consumers?
Governments, companies, and individuals benefit. While still acting as a store of value, a unit of account, and a medium of exchange, e-money leads to reduced friction or transaction costs, …
The impact of cashless societies on business and society
Past research has shown that cashless transactions offer a variety of benefits such as increased efficiency, convenience, and security. For example, electronic payments eliminate the need for …
The World Moving Towards A Cashless Society
ADVANTAGES OF A CASHLESS SOCIETY. Reduced business risks and costs Cashless payments eliminate several risks, including counterfeit money (though stolen cards are still a …
A Case Study to A Cashless Society- Benefits, Risks and …
For a cashless ecosystem to exist, it needs to enable the transfer of funds between people, the purchase of goods and services between people and businesses and the provision of and …
Economic Benefits of Going Cashless - Malaysian Electronic …
Several studies and surveys1 indicate that there are substantial economic benefits of going cashless for government, consumers and businesses. For an emerging economy like …
A cashless society: benefits, risks, and issues - JSTOR
In section 3, we talk about the benefits of a cashless society. Now, the cost of handling cash is enormous, and it varies as a percentage of GDP across the world.
Adoption of Cashless Economy in the World: A Review - IOSR …
Various types of cashless payments were thoroughly discussed by using several peer reviewed articles, thesis, and e-books. It explores the adoption of cashless, perceived benefits, and …
Society's Growing Preference for Cashless Transactions Over …
Sep 30, 2024 · Cashless transactions offer enhanced convenience, speed, and security, reducing the risks associated with carrying cash, such as theft or loss. Moreover, cashless payments …
The Economic Importance of Cashless Society Christian …
Nov 16, 2021 · Major benefits of a cashless society Reduced costs and business risks Cashless payments eliminate several business risks at a time such as theft of cash by employees, …
Should We Move to a Mostly Cashless Society? - Scholars at …
In the underground economy, cash plays a big, well-established role for which there is no remotely perfect substitute in terms of liquidity and universal acceptance. That’s why reducing …
Why benefits of a cashless society may be overrated
The chief concern is that cashless payment systems discriminate against the "unbanked" – those without a bank account – making life harder for those already on the margins.
The Cashless Society in Practice - Göteborgs universitet
It is based on an in-depth study of how the idea about a cashless society is translated and unfolded in practice, by a bank’s actor network. The case study was done at one of the largest …
Benefits, Challenges and Modes in Cashless Economy in …
Transparency, scalability, and accountability are all improved by digital or cashless transactions. This article focuses on the concept of a cashless economy, as well as its benefits and …
A Cashless Society
The paper then considers the potential benefits of a cashless society. Cash is an expensive business, from production to handling. Going cashless may also prevent some illegal …
CASHLESS ECONOMY AND DIGITALIZATION: A STUDY OF …
bring several benefits that can positively impact a country's economy and make commerce easier, more efficient, and faster. The path towards a cashless society involves the development of a …
Charles University Faculty of Social Sciences - cuni.cz
discusses the process of transition to cashless society by identifying transformation stages and the barriers faced to undertake the shift. Subsequently, the links between factors as business …
The Move Toward a Cashless Society: A Closer Look at …
Our study is the first to empirically examine the move toward a cashless society using benefits as well as costs. A deeper understanding of the economics of payment instruments could have …
The Future Of Payment Systems: Innovations, Challenges, And ...
The findings highlight that while cashless systems offer significant benefits in terms of transaction efficiency, financial inclusion, and transparency, there is a need for comprehensive strategies …
Cashless Society: Cross-Country Comparison of Key Drivers
move towards a Cashless Society from an empirical and holistic perspective. The purpose of this thesis is to identify the main drivers that lead to a Cashless Society, as well as the interaction …
Issue 21- Environmental Sustainability of a Cashless Society
The interim paper “ A Cashless Society: Benefits, Risks and Issues” assessed a number of key economic aspects with a view to balance the arguments, and documented a log of 20 risks …
What Would a Cashless Society Mean for Asian Consumers?
Governments, companies, and individuals benefit. While still acting as a store of value, a unit of account, and a medium of exchange, e-money leads to reduced friction or transaction costs, …
