Information technology is changing the world through automation, by
bypassing middlemen and by digitization. We see dramatic effects today
in the music industry, going from CDs to streaming, in newspapers,
from paper to online, and in the banking industry, from branch offices
to the Internet. One of the most fundamental changes is the
replacement of physical cash, money and coins, by bits in a computer.
A Cash-Free Society is about this dramatic change. It shows the
advantages and disadvantages and discuss how we – consumers,
businesses and the society -can prepare for a new world where cash is
no longer king. Banks are closing down branch offices and removing
cash services. Customers wishing to withdraw money as cash are
directed to ATMs. But the number of ATMs is declining. Mobile
payments, either for paying bills or for person to person transactions
will be the last nail in the coffin for cash . These changes are fed
by the overwhelming advantages, both for consumers and businesses, to
electronic payments. In the countries that lead this transition to a
digital economy, Iceland, Norway, Sweden and Denmark, nearly all
transactions, both in volume and number, are digital. Today less than
3 percent of consumer payments are in cash in Norway. Though there are
some disadvantages, there are clear benefits: cheaper transactions,
less crime, simpler tax processing and it will become more difficult
to operate in the black-market economy.
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Produktdetaljer
ISBN
9781442227439
Publisert
2018
Utgiver
Vendor
Rowman & Littlefield Publishers
Språk
Product language
Engelsk
Format
Product format
Digital bok
Forfatter