The Cashless Society

Cash was one of mankind’s earliest inventions, dating back to late pre-history. By the end of the Renaissance, it had almost totally replaced barter as a medium of exchange. However, since checks became mainstream in the late 19th century, cash has been slowly declining in its share of transaction value. As a result, in the early 21st century, cash is playing a small and ever-shrinking role in commerce worldwide. What are the reasons behind this trend? What are the implications? We’ll explain.

The U.S. gove.....

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