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Paperless and cashless society

During our lifetime we can witness ever accelerating dematerialization of the cash. From the US leaving the gold standard in 1971 to plastic cards and contactless payments. And finally, to digital cryptocurrencies and Host Card Emulation on Android devices. Cash is virtually disappearing from sight. There are countries where a majority of transactions are made without cash. And what's more, there are countries that have adopted national strategies to phase out the use of cash entirely.

At INEO we are very keen on that evolution, believing that increased transparency, faster transactions and lower operational costs make this World a better place. Social banking and blockchain-backed transactions make third parties-like "Cities", brick and mortar banks or national reserves - obsolete.

Gutenberg’s invention brought to us the Reformation, the Enlightenment, modern national states and general education. The 19 th century gaves us Austrian and Russian bureaucracies with myriad's of forms, stamps and very important sign offs… This heritage is still present in the DNA of many organizations, including some of those formed in 21st century. With the advent of eIDAS and the GDPR (EU regulations) virtualization of paper as a business communication medium is easily available. The server-side Qualified Electronic Signature, EDIFACT APIs and the blockchain cloud infrastructure help to get rid of tonnes of paper documents dealing with clients, contractors and consumers, while still complying with the most stringent regulations.

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