The COVID-19 pandemic has prompted a fresh wave of online conspiracy theories around fears of a future ‘cashless society’.
Cashless payments more than tripled in the US between March and April – accounting for 8% to 31% of all transactions. It fell to account for 20% of transactions in June.
One social media post claiming the decline in cash payments has “nothing to do with the virus” has been repeatedly shared on Facebook and Twitter, potentially reaching millions of users.
Social media expert Tristan Hotham told Business Insider such conspiracies consist in a “grey area [that risks] sending users down the rabbit hole”.
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The COVID-19 pandemic has prompted a fresh wave of online conspiracy theories around fears of a future “cashless society.”
Cashless transactions have spiked amid the pandemic, according to research from payments firm Square, more than tripling between March and April in the US – from 8% to 31% of all payments – before leveling off at 20% in June.
Earlier in July, Mississippi resident Wendy Singleton shared a lengthy post on Facebook, claiming to outline what “NO CASH ACTUALLY MEANS” for wider society.
The 700-word post – which has so …read more
Source:: Businessinsider – Tech