
The Bank of England in Threadneedle Street, London. Deutsch: Sitz der Bank von England in der Londoner Threadneedle Street. (Photo credit: Wikipedia)
According to this important article from the FT, having already cast paper notes aside in favour of plastic, the Bank of England’s chief economist has proposed getting rid of cash altogether. But the FT argues that the idea of abandoning a system that has been with us for centuries in favour of a government-backed digital currency will seem a step too far.
Source: Scrap cash altogether, says Bank of England’s chief economist – FT.com
A cashless society would have some interesting implications from crime and taxation. But ultimately if an elderly lady wants to keep her savings in cash under her matress that’s her right?
Thoughts?