PHILADELPHIA, Pennsylvania (AP) – The city of eastern Pennsylvania is trying to enforce legislation that would ban cash-on-the-streets. It is interpreted that it is the background to protect personal information while guaranteeing participation of all citizens in the economy.
According to reports, New York City is also moving to stop cash payments. Massachusetts is the only place where retailers are required to accept cash, but the City of Philadelphia will also implement the bill in July.
This is for the poor or minority who do not have a credit or debit card. Some estimates show that 8.5 million households, or 6.5 percent of US households in 2017, do not have bank accounts.
The fact that you can keep your privacy by using cash is also part of this move. In the US, cashierization is on the rise, beginning with Amazon, a cashless cash settlement store. On the contrary, there is a growing political movement to balance like Philadelphia. It is also argued that the use of cryptography allows businesses around the world to do business with 2 billion people who do not have bank accounts. Cryptic money, such as Beam, which emphasizes personal information or anonymity, also appears. For more information, please click here .