Digitalization and the Transition to a Cashless Economy

Paweł Marszałek () and Katarzyna Szarzec
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Paweł Marszałek: Poznań University of Economics and Business

Chapter Chapter 10 in Digitalization and Firm Performance, 2022, pp 251-281 from Springer

Abstract: Abstract The aim of the chapter is to identify the main determinants of the cashless economy, to characterize its impact on the behaviour of economic agents, and to discuss its potential advantages and disadvantages for various agents. The cashless economy is discussed both from the perspective of economic theory and the perspective of the functioning of monetary and financial systems. The most important determinants of the transition to the cashless economy are discussed: digitalization and new technologies; changes in the activities of commercial banks, which are creators of cashless money and quasi-money instruments; changes in customers’ demand for cash; and macroeconomic factors. The cashless economy seems to offer the largest benefits for banks, central banks and big tech companies. They have used new technologies more intensely and have worked on designing their own digital currencies. However, from the point of view of a household, the cashless economy could deepen financial exclusion.

Keywords: Digitalization; Cashless economy; Cash; Money; Cryptocurrencies; Payments (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-83360-2_10

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DOI: 10.1007/978-3-030-83360-2_10

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