A cashless society seems inevitable, but what forces are driving this change and who stands to gain?
We are increasingly reaching for cards, apps and even cryptocurrencies to make payments and manage our money. Though cash is still widely used, the narrative around it suggests it is outdated and presents cash dependency as a problem we need to solve. The shift to digital, ‘cloudmoney’ is presented as inevitable and defended by claims of consumer convenience.
Developments in the global payments arena are fuelling this change. Big banks, FinTech apps and Big Tech are forming new alliances and launching joint products, attracted by the great volumes of personal data that can be gathered from digital payments.
If a cashless society really is inevitable, how can we ensure this future is fair, inclusive, and not a threat to data privacy?
Join campaigner and monetary anthropologist, Brett Scott, as he explores the forces shaping the war for our wallets, who stands to gain from a cashless society, who gets left behind and what role cryptocurrencies might play in our future finances.
If you're interested in the benefits and drawbacks of the growing cashless economy, read our Cash census report (March 2022).
Want to watch this event at RSA House?
For those wishing to gather with friends or colleagues to watch in-person, this event will be live-streamed on The Steps in The Coffee House on the day of the event from 13:00.