Moving towards a cashless society is sleepwalking into a world where negative interest rates (a tax on owning money and savings, oh joy!) will be the norm – this isn’t a conspiracy theory, this is legitimate economic policy being seriously considered by the IMF to stimulate investment and spending in today’s already low-interest rate world.

Don’t take my word for it, there’s plenty of online resources discussing this possiblity as per the following links:

https://www.actuaries.org.uk/system/files/field/document/A%20Cashless%20Society-%20Negative%20Interest%20Rate%20Policies%20August%202018%20addendum%20-%20disc.pdf
https://blogs.imf.org/2019/02/05/cashing-in-how-to-make-negative-interest-rates-work/

https://www.tutor2u.net/economics/blog/could-a-cashless-economy-help-central-banks-to-use-negative-interest-rates

The Scandinavian countries (Sweden, followed by Denmark & Norway top adoption of cashlessness) are already pioneering this approach and some say negative interest rates is the price to pay for living in such societies (in the same way “tax” is just the norm in many).

Others may react against this removal of personal choice and drive up adoption of alternate finance to replace “cash” i.e. cryptocurrencies, or precious metals (gold/silver) in an attempt to store value and hedge personal/private liquidity.

Truly we live in interesting times, ;however once we break through the 0 to negative -2 range things will really get interesting when the next major recession comes round and governments worldwide try negative interest rates.