Cash is in decline. Now, in the US only 14% of all transactions use paper bills. As we move towards a cashless world, the role of physical money is changing. People carry less in their purses and wallets, preferring the security of plastic, and a large proportion of the bills in circulation are locked away in the vaults of the rich, creating a shadow-cash economy.
What does this mean for central banks? How do new trends in the flow of cash impact the stability of the global economy?
In this podcast, Federic Nze, CEO and Co- founder of FinTech microlender Oakam, and Guy Shone, CEO of Explain the Market & Business Presenter for Euronews, discuss how cash is used today, and how it can affect different areas of society.