{"id":1412509,"date":"2022-03-31T10:29:50","date_gmt":"2022-03-31T14:29:50","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1412509"},"modified":"2022-03-31T10:29:53","modified_gmt":"2022-03-31T14:29:53","slug":"cashless-society-would-leave-millions-struggling-report","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cashless-society-would-leave-millions-struggling-report\/","title":{"rendered":"\u2018Cashless Society\u2019 Would Leave Millions Struggling &#8211; Report"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcashless-society-would-leave-millions-struggling-report%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1412509&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p class=\"subheading\">A report into the potential effects of implementing a \u2018cashless society\u2019 has found that millions of people would be left struggling, with many vulnerable people being heavily reliant on physical tender.<\/p>\n<p>A report published on Wednesday has found that a shift to cashless society would considerably disadvantage and disenfranchise millions of people, and would also risk harming many vulnerable people reliant on physical notes and coins.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>In particular, the study found that 15 million people in the UK are heavily reliant on physical currency for budgeting purposes, with ATM use also remaining high in some of the country\u2019s most economically vulnerable areas compared to pre-pandemic levels.<\/p>\n<p><a href=\"https:\/\/www.link.co.uk\/about\/news\/cash-census\/\">According<\/a> to research conducted by the Royal Society of Arts, a number of demographics are extremely reliant on the use of physical cash, including older people, as well as many young people who use tangible currency to help with budgeting.<\/p>\n<p>The research also found that, while ATM use overall went down during the Chinese Coronavirus pandemic and has not since returned to pre-2020 levels, one in seven people found themselves using cash more because of the crisis.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>Ultimately, one in five people reportedly said that they would struggle in a cashless society, with the researchers also saying that there is an urgent need for legislation ensuring people\u2019s access to physical cash in the future.<\/p>\n<p>\u201cFor millions of people, their relationship with cash is critical to the way they manage their weekly budget,\u201d Mark Hall, who penned the paper, reportedly said. \u201cDespite online banking and shopping becoming more common, our research shows the percentage of the population wholly reliant on cash is unchanged in the past three years.\u201d<\/p>\n<p>\u201cIt\u2019s vital that the dash to digital doesn\u2019t disenfranchise anyone, especially with the cost-of-living crisis putting such significant strain on family finances right now,\u201d he also said.<\/p>\n<p>\u201cPeople are increasingly using less cash and embracing contactless and digital payments,\u201d noted\u00a0John Howells \u2014 the CEO of ATM network LINK \u2014 regarding the study. \u201cHowever, it\u2019s clear that digital does not currently work for everyone and for those living on tight budgets, where every penny counts, there is no better alternative to notes and coins, and they are in no rush to turn to money management tools.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Hold the Private Jet! Davos Goes Virtual as World Economic Forum Lays Out Great Reset Agenda<a href=\"https:\/\/t.co\/zZWW4sgKo4\">https:\/\/t.co\/zZWW4sgKo4<\/a><\/p>\n<p>\u2014 Breitbart London (@BreitbartLondon) <a href=\"https:\/\/twitter.com\/BreitbartLondon\/status\/1483137047049093121?ref_src=twsrc%5Etfw\">January 17, 2022<\/a><\/p>\n<\/blockquote>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p>The notion of a cashless society has been floating around for quite a while now, with nations such as Sweden becoming heavily <a href=\"https:\/\/www.wired.co.uk\/article\/sweden-cashless-society\">reliant<\/a> on digital transactions.<\/p>\n<p>A number of <a href=\"https:\/\/www.breitbart.com\/tech\/2019\/06\/21\/bank-of-america-ceo-wants-a-cashless-society\/\">benefits<\/a> have been linked with the move, including lower infrastructure costs and making it easier to hamper criminal enterprises.<\/p>\n<p>Australia at one stage even considered implementing a so-called \u201c<a href=\"https:\/\/www.abc.net.au\/news\/2020-12-07\/cash-ban-law-10000-dollars-abandoned-amid-covid-crisis\/12951720#:~:text=Paying%20more%20than%20%2410%2C000%20in,to%20the%20COVID%2D19%20pandemic.\">cash ban<\/a>\u201d law, which would put a legal limit of $10,000 on any physical payments, with any transaction amounting to more than that being rendered an offence.<\/p>\n<p>While the law has since been put on ice, it is clear that many parties in the modern world \u2014 including banks and regulators \u2014 are greatly in favour of a complete switch to digital.<\/p>\n<p>Others are more sceptical, however, with the city of Philidelphia even going so far as to <a href=\"https:\/\/www.breitbart.com\/tech\/2019\/03\/11\/philadelphia-bans-cashless-stores-restaurants\/\">ban<\/a> cashless stores and restaurants so as to be more \u201cinclusive\u201d of those without bank accounts.<\/p>\n<p>\u201cWe are not asking them to do something they don\u2019t know how to do,\u201d said local politician\u00a0Bill Greenlee upon the implementation of the ban. \u201cThey accepted cash before.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A report into the potential effects of implementing a \u2018cashless society\u2019 has found that millions of people would be left struggling, with many vulnerable people being heavily reliant on physical<\/p>\n","protected":false},"author":297,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1412509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1412509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/297"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1412509"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1412509\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1412509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1412509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1412509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}