Cash Abolition. Opportunities and Risks on an International Level

Bachelor Thesis from the year 2016 in the subject Economics - Monetary theory and policy, grade: 2,0, University of Applied Sciences - Bonn, language: English, abstract: Cash has been an important basis for economic transactions between companies and consumers for centuries. Contracts for the purchase or sale of goods and services are concluded and settled via payments. Despite differences in payment behavior, banknotes and coins are a widely used means of payment across continents. As such, cash is a basic prerequisite for economic prosperity. Nevertheless, its continued existence has been called into question for some time by a number of renowned economic players. According to them, abolishing cash would, among other things, reduce organized crime and increase the scope of action of central banks. Abolishing cash would make people in today's networked society even more transparent and controllable for various companies and states. Bergmann looks at the opportunities and risks of abolishing cash and refers to economists and economic actors such as Peter Bofinger and Kenneth Rogoff in this publication.