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Cash usage in many countries was already declining before COVID-19 hit, and concerns about banknotes and coins transmitting the virus could speed up its demise further. Using a ranking created by GlobalData – which analysed data from 2019 on smartphone and internet banking usage, the number of cards owned by each person, frequency of card usage and e-commerce spending as a percentage of GDP – click or scroll through to see the nations that are predicted to be the first to go cash-free.
lovemoney staff
04 November 2020
Features
5050 vision, Not sure how bartering will be very effective for the masses? and i'm sure Peterm4242 is right, it will impact certain factions of society, (and rightly so). However, I wonder how it will affect big groups likes tradesmen and market traders? The way a lot of tradesmen work I can see it might well get rid of some of the cowboys but for the rest their prices will have to go up to cope.
The taxman will love it! 100% electronic accountability.... I can see the good old bartering days returning.
Not sure drug dealers and certain groups ("bit of tarmac for your driveway, sor!") will get on without cash.
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22 January 2021