The War on Cash: The Digitization and Privatization of Cash and a Critical Need for Regulation

Research output: Contribution to journalArticlepeer-review


Many financial services professionals, central bankers, technologists, academics, and consumers across the world believe that we are at the dawn of a truly cashless society. In several countries, a defacto cashless society already exists. During the ongoing Covid19 pandemic, we have seen a further acceleration of the decline, and indeed refusal, of cash transactions globally. Numerous studies focus on the benefits of cashless transactions and in many instances peer reviewed papers unquestionably extol the virtues of such. The researcher contends that consumers are being nudged towards a positive evaluation of a cashless society, because despite varied sources of information, financial, technology, and government sectors are predominantly reporting its positive connotations. However, there are many downsides to cashless payments and an impending cashless society, many of which have significant and life changing consequences for consumers and economies, yet this remains very much under researched. The researcher contends that as a society, we cannot do nothing; we cannot allow cash to be digitized and privatized by stealth. We must turn our attention to the consequences of a cashless society so we may identify solutions or mitigations and open a regulatory path towards a mediated transition.
Original languageEnglish
JournalInternational Journal of Economics, Commerce and Management
Publication statusPublished - 2021


Dive into the research topics of 'The War on Cash: The Digitization and Privatization of Cash and a Critical Need for Regulation'. Together they form a unique fingerprint.

Cite this