Corruption is one of the biggest problems worldwide right now. It causes a lot of poverty in the world. One of the causes of corruption is the existence of cash. That’s why in our perfect world there are no more banknotes, but everything is digital.
The problem with banknotes is that it’s invisible to the government. Of course every note has a number and can be traced if it is stolen. But with banknotes a lot can be done, without the government seeing it. Banknotes are widely used in arms and drug sales. It is also used to launder money.
Every country suffers from corruption, but it has been shown that the countries with the lowest levels of corruption are in the best position. 1How Corruption Affects Emerging Economies. That’s why it’s so important to tackle corruption. Quitting cash is therefore a big step forward.
If we stopped using cash, we’d make it a lot harder for the corrupt traders. There’s only one bank in the United World, the United World Bank. So all transactions have to go through this bank. This will make for much less corruption.
The system becomes quite simple: one bank (the United World Bank), one currency (the Uni) and each person one bank card. No more hassle with multiple bank cards, different currencies. Money should be a simple tool, not a goal in itself.