EC369: Critically evaluate whether you believe there is a role for physical money in world where digital money: MONEY & BANKING Assignment, UOG, Ireland
| University | University Of Galway (UOG) |
| Subject | EC369: MONEY & BANKING |
Q1. Is the Future of Cash solely Digital?
In a blog post on Sept 1st, 2022 the IMF conclude that “the future of money is undoubtedly digital”, but also state that “not every form of digital money will prove viable”.
Moreover, the debate about a ‘cashless society has been ongoing for several
years. A Bloomberg article – “The End of Cash” –
Economists see great payoffs in a cashless society: lower transaction costs, new tools to manage economic growth and an end to tax evasion and money
laundering. Critics see an erosion of privacy, frightening new powers for tyrants and an increase in inequality”.
Critically evaluate whether you believe there is a role for physical
money in world where digital money and new payments technologies
are becoming very popular
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