STRATFOR: A world without cash is inevitable

Physical currency is going extinct, according to Stratfor.In a recent paper, the global forecaster said that the world is on a march to a cashless society and even if there are setbacks the endgame is inevitable.”All of these trends, allied with the unstoppable progress of technology, will likely make cashless transactions ever more prevalent in the global economy, especially as the emerging economies of Africa and India embrace concepts such as mobile banking,” said the note.The pronouncement was driven by a spat of news regarding the elimination of high denomination currencies.The euro zone is nearing a decision to eliminate the 500 euro note and Harvard professor Larry Summers has recently called for the end of the $100 bill in the US.

 

Read More: STRATFOR: A world without cash is inevitable – Business Insider

1 reply

Comments are closed.