https://www.euronews.com/next/2023/02/06/cashless-society-not-in-switzerland-where-people-will-vote-to-keeping-banknotes-and-coins- [ ] * Biztech News * Money * Work * Mobility * Health * Home * Opinion * Series[ ] Series + The Dialogue + Rethink + hacker:HUNTER Next Level + Meet the entrepreneurs + Business Line + Focus + Real Economy + Target + The Exchange + Smart Health * * * * Visit Euronews Money Cashless society? Not in Switzerland where people will vote on keeping banknotes and coins forever A national vote on whether to prevent Switzerland ever becoming a cashless society has been triggered. A national vote on whether to prevent Switzerland ever becoming a cashless society has been triggered. - Copyright Canva By Reuters * Updated: 06/02/2023 Swiss citizens will get the chance to try to ensure their economy never becomes cashless, a pressure group said, after collecting enough signatures on Monday to trigger a popular vote on the issue. The Free Switzerland Movement (FBS) says cash is playing a shrinking role in many economies, as electronic payments become the default for transactions in increasingly digitised societies, making it easier for the state to monitor its citizens' actions. It wants a clause added to Switzerland's currency law, which governs how the central bank and government manage the money supply, stipulating that a "sufficient quantity" of banknotes or coins must always remain in circulation. * King Charles III will not feature on Australian bank notes There is no evidence of moves towards a cashless society by Swiss authorities. FBS said it had garnered over 111,000 signatures in support of the measure, above the 100,000 needed to trigger a popular vote. In defence of cash Under Switzerland's system of direct democracy, the proposal would become law if approved by voters, though government and parliament would decide how that law was implemented. "It is clear that... getting rid of cash not only touches on issues of transparency, simplicity or security... but also carries a huge danger of totalitarian surveillance," FBS president Richard Koller said on the group's website. * Cash holds up in Switzerland despite COVID-led rise in electronic alternatives He also views Switzerland as a European standard-bearer for the defence of cash, as pushing through such guarantees in the European Union would entail the "almost impossible" process of securing approval from all 27 member states. Accelerated by the impact of COVID-19 lockdowns, the trend towards increased cashless payments was evident as far back as 2017, when an Ipsos study found more than a third of Europeans and Americans would happily go without cash and 20 per cent pretty much did so already. CASH MONEY DIGITAL CURRENCY SWITZERLAND DIGITAL ECONOMY BANKNOTE CURRENCY Share this article * facebookShare * twitterTweet * flipboardShare * mail iconsend * facebookShare * twitterTweet * flipboardShare * mail iconsend * MoreHide * redditShare * messenger-dskSend * linkedinShare * vkShare * redditShare * messengerSend * linkedinShare * vkShare You might also like Right now, electric cars are considerably more expensive to buy but cheaper to run. Now playing Next Mobility Will electric cars ever cost the same as a petrol or diesel car? Big Tech companies are establishing a presence in the Polish capital Warsaw. Now playing Next Work Poland's reverse brain drain: Meet the tech workers tempted back home Among the 10 countries that drink the most in the world, nine are in the EU. Now playing Next Health Europeans are the world's heaviest drinkers: How do countries compare? Most viewed Exercise in Europe: Which countries are the most and least active? Scientists claim Earth's inner core has reversed its direction of spin Why is Sweden restricting hormone therapy and surgery for trans teens? 'I want to be alive': Has Microsoft's AI chatbot become sentient? Spain passes Europe's first paid 'menstrual leave' law Sign up for our Next newsletter [ ] * Biztech News * Money * Work * Mobility * Health * Home * Opinion * Series Terms and ConditionsCookie Policy - English English Francais Deutsch Italiano Espanol Portugues Russkii Turkce Ellenika Magyar frsy l`rby@ Shqip Romana k`art`uli b'lgarski Srpski * * * * Visit Euronews * Biztech News * Money * Work * Mobility * Health * Home * Opinion * Series[ ] Series + The Dialogue + Rethink + hacker:HUNTER Next Level + Meet the entrepreneurs + Business Line + Focus + Real Economy + Target + The Exchange + Smart Health * * * * [English ] Visit Euronews Facebook