The Lydian Lion, a small gold disc from ancient western Turkey, is believed to be the oldest coin in existence, highlighting the longstanding use of physical money
Australia is experiencing a decline in cash usage, with only 1 in 20 point-of-sale transactions involving cash
The shift towards a cashless society raises concerns about excluding vulnerable groups, such as regional and rural communities, elderly individuals, new migrants, and those uncomfortable with digital payment systems
Sweden's experience with cashlessness has shown the need for inclusion and consideration of people's concerns, as not everyone is ready for a completely cashless system
Cash serves as a store of wealth, and while its circulation as a payment mechanism decreases, its role as a form of saving remains popular
Some argue that cash should be considered a public good, similar to utilities like water and electricity, to ensure inclusivity and accessibility
Cashless transactions offer convenience and traceability but raise concerns about privacy and surveillance
Germany has maintained a preference for cash payments, partly due to historical experiences with state surveillance
Studies suggest that people find it easier to spend abstract money, such as credit cards, compared to physical cash, potentially impacting spending behavior
The transition to a cashless society raises questions about teaching younger generations about money and its value in an increasingly immaterial world