Study: 76% of Americans don't want to give up their paper money

Perhaps you have noticed the steady trend aimed at eliminating cash as a means of exchange.

A growing list of municipalities is, at the very least, considering banning cash.

Some independent retailers like Sweetgreen have taken the impetus to reject cash as a form of payment on themselves.

We recently conducted a study of 1,000 US consumers and asked the question: should the US government eliminate paper cash and make all money digital?

Let's take a deeper look at why so many are seemingly opposed to a cashless society, as well as the primary arguments for banning cash as a medium of exchange.

If cash had no real value or utility, drug dealers, gun runners, and human traffickers would no longer be able to conduct their criminal activity in the cash-funded shadows of a given economy.

Maintaining a universal standard of all transactions by eliminating cash would not only make it easier and less costly to conduct personal accounting, but also to conduct audits.

The extra effort that comes with keeping track of cash transactions, whether for accounting or auditing purposes, comes at a cost.

Eliminating the need to track these cash transactions would, in theory, save the government money and, one would hope, those savings could be passed onto the people.

We have grown up in a world where we can use cash when we want, where we want, to purchase the goods and services that we want.