Cash Community Initiatives from CashEssentials

The independent think tank CashEssentials has launched two new initiatives – the Cash Academic Network and the Cash Associations’ Forum – both aimed at building bridges within different groups of the cash community.

Cash Academic Network (CAN)

The objective of CAN is to create a network of academics/researchers interested in cash, in order to:

• Share ideas on research topics/areas

• Connect researchers with the cash community

• Offer guidance on research

• Offer a sounding board to publish research.

By design, the group brings together researchers with different competencies – economy, sociology, anthropology, history, disaster risk management – and interests – financial inclusion, retail payments, resilience.

The network is not limited to academia and is open to researchers from central banks and the cash community. A kick-off meeting was held on 19 April and attended by 16 people, with another 18 who have expressed interest but were unable to join.

In parallel, CashEssentials is launching a research project aimed at framing the discussion on cash as a public good, a public infrastructure and/or a basic right. The project will address implications for access to and acceptance of cash as well as the business model underlying the cash cycle.

The topic will be discussed during a seminar scheduled on 6 November in Istanbul during the Future of Cash Conference.

Cash Association Forum (CAF)

The CAF consists of 21 organisations representing the demand and supply sides of the cash community around the world.

This diverse community of pressure groups and industry associations – which operate at a national, regional and in some cases international arena – uses a range of tools to make the case for cash, lobbying, social media, petitions etc.

Often the task is to respond and challenge regulatory proposals such as limiting cash usage or debunk anti-cash arguments such as cash fuels the shadow economy. Equally, there is the need to promote initiatives such as mandatory acceptance of cash.

Following discussions amongst members of the newly-formed Cash Associations’ Forum (CAF), CashEssentials will hold a workshop on ‘Framing a Positive Narrative for Cash’ at the Future of Cash conference, 6-8 November in Istanbul.

Some central banks argue that merchants and the public need to choose cash, that it needs to exist because it is wanted. In this context, the workshop in Istanbul aims to frame the positive case for cash, not only as an individual choice – I choose to pay in cash – but also as a societal issue – cash is a key pillar of economic and social resilience.

Broad public support, as shown by ‘Yes for Cash’ in Norway which has 50,000 members on Facebook, offers a great base for promoting the future of cash.

www.cashessentials.org