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In their recent national elections, Swiss voters, by a resounding 73.4% rate, approved a measure to guarantee that people would be able to continue to make cash transactions into the future. The rate of such transactions dropped greatly with the Covid pandemic: only 30% of shop transactions were cash-based in 2024.
There are concerns that governments can trace your financial history, and if they disapprove, shut it down. Famously, Canada shut down the banking of some protesters in 2022 of the Freedom Convoy (it was later restored). There's also the difficulty of giving money to the people who are unbankable or unhoused, whether temporary or long-term.
Switzerland joins Hungary, Slovakia and Slovenia in the guaranteed cash market, Austria is considering a similar proposition.
https://www.politico.eu/article/switzerland-cash-right-constitution-vote/
There are concerns that governments can trace your financial history, and if they disapprove, shut it down. Famously, Canada shut down the banking of some protesters in 2022 of the Freedom Convoy (it was later restored). There's also the difficulty of giving money to the people who are unbankable or unhoused, whether temporary or long-term.
Switzerland joins Hungary, Slovakia and Slovenia in the guaranteed cash market, Austria is considering a similar proposition.
https://www.politico.eu/article/switzerland-cash-right-constitution-vote/
