The Why Factor
Why Do We Need Cash?
Jul 3, 2015
Exploring the debate on the necessity of cash in a digital world, the podcast discusses the evolution of money, the impact of mobile money in Kenya, the significance of physical cash in the economy, and the emotional attachment people have towards using cash over digital alternatives.
17:53
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Quick takeaways
- Cash holds unique appeal with anonymity in transactions and practicality for certain individuals.
- Shift towards digital finance solutions for convenience and accessibility challenges relevance of physical cash.
Deep dives
Origin of Cash: From Ancient Coins to Modern Society
Coins as a form of cash trace back 2,600 years, originating from small gold buttons in Western Turkey. Kevin Clancy from the Museum of the Royal Mint highlights their value as a common currency. Despite moving towards a cashless society, the persistence of cash raises questions on its relevance in today's world.
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