Is cash no longer king

In a digital world, paper money is inconvenient to carry, costly to produce and increases transaction times. The question isn't if cash will become obsolete, but when. This article discusses how a cashless world will soon become a reality. In doing so, it cites a report from the Bank for International Settlements that states that bills and coins represent only 3 percent of the national economy in Sweden, 9 percent in the Eurozone and 7 percent in the United States. The article then details the changes to the economic and commercial infrastructure that accompany the trend away from cash. It overviews how a new generation of technology users, who are focused on convenience, are driving the conversion to a cashless society. For example, the creators of E-ZPass are exploring ways to use the transponders to pay for services other than tolls. Next, the article explains the slow evolution of becoming cashless and identifies barriers to the conversion, noting that the older portion of the population lags in technolog
registered user content locked

Log in or join PMI to gain access

or Register

Advertisement

Advertisement

Related Content

  • The Practice Standard for Scheduling Third Edition

    The Practice Standard for Scheduling – Third Edition member content locked

    Presents the latest thinking regarding good and accepted practices in the area of scheduling for a project.

  • PM Network

    Biting Back member content locked

    By Parsi, Novid The world's deadliest animal doesn't have claws or teeth—and it's tiny. Each year, blood-sucking mosquitoes kill 830,000 people by carrying and spreading disease. Malaria is by far the deadliest…

  • PM Network

    Safe Way member content locked

    By Waity, C. J. Overcrowding on Mumbai, India's above-ground rails is so extreme, it's often deadly. On average, seven commuters die each day, with more than 2,700 deaths in 2018. Relief is en route, with the state…

  • PM Network

    Pushover No More member content locked

    By Hurt, Karin Many project managers have allowed their teams to slide—choosing to be liked at the expense of achieving results. Once you've gained a reputation for letting slackers slide, it can be tricky to get…

  • PM Network

    Reflective Mood member content locked

    When is a storage facility more than a storage facility? When it's designed to be a work of art in and of itself.

Advertisement

Publishing or acceptance of an advertisement is neither a guarantee nor endorsement of the advertiser's product or service. View advertising policy.