Is cash outdated and should we get rid of it?

cash hotovost

Physical money or else cash – a chinese invention that we as humanity have mastered so much that we can recognize its “whispering sound” even without seeing it. A small piece of paper that so far gives us a feeling of some freedom and independence. Color-coded papers with printed numbers, which, in addition to a large number of watermarks and security features, can also be recognized by blind people. Physical money is a gateway for us and at the same time a signal of whether we can get something for it or not.

Interest in physical money is declining

However, the current “coordinators and legislators” are not interested in physical money. Not because they do not acknowledge it, but because cash does not provide them with a sufficient overview of our material wealth as well as of the form and scope of use. And so under their influence, humanity will soon lose this pleasant sound and chirping, accompanying us for centuries.

Globalization and digitalization

Since the second half of the 1990s, we have been part of the global campaign, which aims to change the way we use money to date through digitalization. After all, what else is globalization really about …?
The largest share of withdrawal of physical money is overseen by international financial organizations, which are currently introducing legislative measures under the pretext of COVID-19, allegedly because cash can transmit the virus. Thus, holding cash could in time become something of an offence, such as is drug possession today.

Data protection problem

After cash becomes obsolete and dangerous and thus will be abandoned, there will be another problem and that is  protection of personal data. Gradually, there may be even more significant illegal trading of our data. Our already completely digitalized accounts will remain even more vulnerable to hacker attacks, coordinated not only by individuals but also by organizations.

Devaluation of cash and debt

Another problem, which could be solved easily by abolishing cash is the current global recession, which started long before the global pandemic took place. Quantitative easing and printing money out of thin air lead to a point where cash is based only on trust of people and this trust is thinning down with the worsening economic situation. If we replace cash with another form of money, it could be done in a certain ratio such as 10:1. It would not be a new method, this was the solution of economic crisis not so long ago, your grand parents could still remember it. That would also erase the insane debts of public finances. At the cost of common people and their savings.

Cryptocurrency as the last freedom resort

This could also be the reason why governments are fighting the cryptocurrencies with various legal obstacles. It would be completely out of their reach and control. So cryptocurrencies could become the last resort of our freedom to spend our money without the overseeing eye of the Big Brother.