Does the Crowdstrike Outage Prove the Dangers of a Cashless Society?

“If there is no alternative, then the whole thing can collapse around you,” says Ron Delnevo. He’s the chair of The Payment Choice Alliance, “which campaigns against the move towards a cashless society.”

He’s part of those arguing “the chaos caused by the global IT outage last week underlines the risk of moving towards a cashless society,” writes the Observer:

Authorities in China and the US have fined businesses for not accepting cash. Delnevo said the U.K. should have a law requiring all businesses to take cash. Martin Quinn, campaign director for the PCA, said using cash allowed for anonymity. “I don’t want my data sold on, and I don’t want banks, credit card companies and even online retailers to know every facet of my life,” he said. Budgeting by using cash is also easier for some, he added.
The article includes some interesting statistics from a U.K. bank trade association. “The number of people who never use cash, or use it less than once a month, reached 23.1 million in 2021, but declined to 21.6m last year.”

The GMB [general trade] Union said the outage reinforced what it had been saying for years: that “cash is a vital part of how our communities operate”. “When you take cash out of the system, people have nothing to fall back on, impacting on how they do the everyday basics.”

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