Growing cash limits and the promotion of digital payment forms are becoming increasingly noticeable in Poland and Europe. On the 1 hand, fresh technologies offer convenience and velocity of transaction. On the another hand, concerns about the failure of privacy and possible financial control by the state origin concern in many Poles.
Global trend: Central Bank digital currencies (CBDC)
More and more countries are considering introducing digital currencies issued by central banks (CBDCs). In Poland, the subject is investigated by the National Bank of Poland, but so far no decision has been made on the issue of alleged digital gold. specified a solution can simplify transactions and reduce the anonymity of financial transactions, which is allegedly intended to counter money laundering and terrorist financing. However, the introduction of the CBDC poses a hazard of central control over citizens' spending, which raises concerns in the context of financial freedom and privacy.
Cash in reverse?
Although Poland is inactive a popular country, its marketplace share is decreasing. According to investigation from 2023, 38% of Poles declare that cash is their main means of payment, but more and more people usage specified tools as BLIK or payment cards. At the same time, banks restrict access to ATMs, and withdrawal fees can be up to 8%. For many people, these changes become an obstacle to everyday life and force them to usage alternate payment methods.
Concerns of Poles
According to the opinion24, 90% of Poles believe that banning cash would have a negative impact on the economy. Many people fear that a complete transition to digital money could lead to a failure of control over their own spending and full surveillance. However, it is worth noting that modern payment systems, specified as BLIK or cryptocurrency, gain popularity through their functionality and anonymity in any cases.
Introduction of the digital euro and Poland
European Union plans to introduce digital eurowhich would function alongside conventional cash. Although specified a step may be a revolution in the payment system, it raises concerns about the financial safety of citizens and limits their privacy. The digital euro would be centrally controlled, meaning that any transaction could be monitored or even restricted by the state.
Does cash have a future?
Despite the improvement of technology and the force on digitalisation, cash is inactive crucial for a large part of Poles, especially older people and residents of smaller towns where access to modern technologies is limited.
The introduction of digital currencies is an inevitable trend, but cash inactive plays a key function in Polish society. Concerns about financial control and surveillance indicate that many people will defend conventional forms of payment that offer privacy and security. Poland faces the challenge of reconciling technological improvement with the needs of its citizens.
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