this post was submitted on 23 Aug 2023
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"Australia's transition to a cashless society". Misleading headline; the article is reporting on a relative decline in the number of cash transactions. Don't think there's been any policy or legislation on phasing out cash.
We can become a cashless society without legislation; the headline is merely the reporter's commentary on the current state
Maybe. How many businesses are refusing cash? *Could* they refuse cash? The article does not cover this. I found this piece insightful: https://nitter.net/CBSMornings/status/1185527270125002752
Nice share! While it is from a US perspective some of those issues certainly apply here, however, in Australia at least we have banks such as Macquarie which offer free savings and transaction (debit card) accounts so there isn't so much of a cost (apart from having an address I suppose) to opening an account. But the question is should we have to have a bank account?
I don't think we should have to have bank accounts to interact with society. However, the economics professor in the video did make some good points about how cash fuels crime