What does a cashless future mean , The Economist

Many countries are going cashless at great speed. What are the advantages of ditching hard cash and what are the dangers Read more about a cashless future here: Click here to subscribe to The Economist on YouTube: Somewhere in the near future physical money will become like these Relics of a different age. And will only be found in places like this. In other words hard cash will disappear. It will become electronic transferred by things like these. So whats the rush to get rid of cash And whats the cost Lets face it money is cumbersome for consumers and banks. Operating in cash costs countries about 0. 5 of their GDP every year. But cost isnt the only incentive to move towards a cashless future. Digital payments arent just easy they are neat. Having every single payment automatically recorded is efficient. But theres a downside. Electronicmoney trails can allow governments and private companies to access and