The rumours of the death of cash have been greatly exaggerated, writes TBA tutor Edith Rigler - there are plenty of reasons why cash will be king for a long time to come
That the future of cash has become hotly debated there can be no doubt. Many observers predict the demise of notes and coins as an outdated and obsolete mode of payment. For example, at last year’s World Economic Forum summit in Davos, Deutsche Bank’s chief executive officer (CEO), John Cryan, observed that as cash was both costly and inefficient, it would no longer exist in another 10 years. Notes and coins would disappear. Technology would triumph.
That the future of cash has become hotly debated there can be no doubt. Many observers predict the demise of notes and coins as an outdated and obsolete mode of payment. For example, at last year’s World Economic Forum summit in Davos, Deutsche Bank’s chief executive officer (CEO), John Cryan, observed that as cash was both costly and inefficient, it would no longer exist in another 10 years. Notes and coins would disappear. Technology would triumph.
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