Is Cash a Public Good or a Basic Right?

The Future of Cash Conference 2023 (Istanbul, 6-8 November) will kick-off with a research seminar organised by CashEssentials. International researchers from different fields will discuss whether cash qualifies as a public good or as a basic right, and the policy implications of this.

There is growing awareness in many countries of the declining use of cash for day-to-day transactions as well as the shrinking infrastructure for the distribution of cash. Changes have accelerated with the COVID-19 crisis and, more recently, central bank digital currency projects add further uncertainty as to future cash usage. Some have welcomed these developments for the sake of modernisation and economic efficiency.

Nevertheless, voices have also drawn attention to the existence of several collective benefits enabled by cash – such as protection of privacy, fee-free payments, stabilisation in times of crisis, resilience, and social and economic inclusion – as well as its long-lived embedding in our social and cultural practices. Cash is also a safeguard against the vulnerabilities of electronic payments systems in the event of natural disasters, digital attacks, or war.