Around the world, cash is giving way to credit cards. Parishioners text tithes to their churches. Homeless street vendors carry mobile credit-card readers. The Bank of Korea recently announced plans to be cash-free by 2020. In a world where some American coins cost more to produce than they’re worth, it’s time to consider the pros and cons of paper money. A cashless society would eliminate many types of crime, but what about the tremendous power such a transition would give to banks and goverments? We really loved this article from The Atlantic, where Sarah Jeong discusses the some of the hidden dangers of the death of physical currency.
