Ban on Cash in Australia

Introduction and Summary

Part 1 — Cash as Freedom

Cash is Essential to a Free and Open Society

The Emergence of the Cashless Society

  1. Nordic countries such as Sweden, Iceland and Finland use cash for less than 2% of transactions;
  2. South Korea targets 2020 for phasing out paper notes and coins; and
  3. China’s Wechat and AliPay account for 92% of cashless transactions and overall China has gone 85% cashless (think about the data these two companies collect on their clients and then think about what they do with that data…).

Part 2 — Exception for Digital Cash

Part 3 — Privacy of the Individual vs Surveillance Capitalism and the Surveillance State

Privacy Generally

Privacy in Australia

Potential Solutions to this Conundrum

Conclusion

  • END -

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