The imminent Cashless Society

Just how close are we? And What are the implications?

Published in: World, Wealth
Date: 14 / 04 / 17

We are moving at lightning speed towards a cashless society. 

A cashless society describes an economic state whereby financial transactions are not conducted with money in the form of physical banknotes or coins, but rather through the transfer of digital information (usually an electronic representation of money) between the transacting parties.

The danger is the relatively few people who may ultimately control all of the digital wealth of the world will virtually have control of all the people in a cashless society. This results in a definite loss of freedom and liberty.

Faisal Amjad

About the author

A lifelong learner, avid reader and passionate writer, I am the founder of KNOW and a serial entrepreneur.
I am a huge believer in personal development and am also the co-founder of Muslim CEO.

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