Gallup of the Week: Do you still carry cash with you?


The declining importance of cash, even its disappearance, is starting to look increasingly clear, at least in China, says Helsingin Sanomat in the story last week.

Hong Kong South China Morning Post reported in November that technically enlightened beggars in China are already asking for digital payments instead of coins, as in this case; in the video.

They have affixed to their chest a QR code that is commonly used for payment. The giver of the alm reads the code on his phone and transfers the amount.

Content continues after ad

Many Chinese no longer carry payment and credit cards with them. The phone is enough.

The content continues below the ad

There are many benefits to digital payment. Bits are cheaper than coins and banknotes. Digitalisation streamlines services.

The most familiar example is e-commerce. Automation of services reduces cash payments.

About a year ago, the Chinese restaurant chain Haidilao opened a new robot restaurant in Beijing. The customer orders a meal on the mobile phone, which the robot transports to the table. And of course the customer pays on the cell phone.

The hassle of handling money is gone. During the corona period, technology increases safety by reducing contact between customers and staff.

One of the good things about the cash is that it maintains the anonymity of its user. Its use does not come to the knowledge of outsiders just like digital money.

A third type of money, digital or electronic cash, has been proposed.

It would combine the good features of traditional cash and digital money. Every purchase of a video game or diaper would not have to be recorded on external systems.

The restrictions would be the same as for banknotes. Depositing large amounts of digital cash as regular digital money would require proof of origin.


Source: Tiede by www.tiede.fi.

*The article has been translated based on the content of Tiede by www.tiede.fi. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!