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What happens to democracy in a cashless society?

New technology is transforming the way we pay for everything, but at what cost?

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Credit: http://www.hedgethink.com/market-view/cashless-society/. All rights reserved.

Last month I was asked to speak at a conference in the City of London on the ethical issues surrounding new payment systems. The audience was packed with people working on innovative things like payment apps for smart phones and ‘contactless payments,’ where you can just wave a card or a phone over a terminal.