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Understanding the Shift to a Cashless Society

The rise of digital transactions—credit cards, mobile payments, and crypto.

Scripture does not speak to the rise, control or lack thereof of a cashless society. It does speak to one obeying government (unless it is a sin issue), so as we navigate these changes, we need to carefully and prayerfully comply yet not making money our “god” but trusting that our Good God is our ultimate provider

Government pushes for a cashless economy—what’s driving it?

  • Tax Compliance (explain with some detail)
  • Identify and eliminate criminal activity
    • India – Got rid of some of their larger bills and gave a short period of time for people to convert their large notes into their bank accounts. They wanted to eliminate criminal activity. 
  • Control & manipulation
  • Crisis management (stimulus)
  • It’s trendy among other nations

Potential benefits

  • Convenience
  • Speed
  • Physical Security
  • Transparency.

Potential risks:

  • Loss of privacy
  • Increased third-party control over finances.
  • Cybersecurity threats
  • Loss of anonymity
  • Potential for Social Credit systems… financial privileges could be reduced or stopped due to your behavior or social values.

Biblical Stewardship in a Digital Economy

There are lots of people who have philosophical and even theological objections to the direction our country is going with a digital economy. For example, the elimination of the Gold Standard. For the sake of this episode, we are not weighing into the debate. We are simply talking about the system that “is” and how to wisely operate within it. 

  • Stewardship isn’t about how you pay, but how you manage what God has entrusted to you.
  • Proverbs 27:23 – “Know well the condition of your flocks”—you must track your spending, even if it’s digital.
  • Avoiding the dangers of impulsive spending with easy transactions.
    • The old-fashioned cash “envelope system” may be harder to use. Would need to convert to a digital envelope system method.
  • Tips for practicing generosity and tithing in a cashless world.

Financial Control & Dependency

If cash disappears, who controls your money?

  • Government (monetary policy control, instant fines, deplatforming, control economic behavior)
  • Banks (Full custody over funds, banking fees)
  • Payment processors (Transaction monitoring, Data collecting, Bill of Rights violations)

 

The Dangers of Government Control (What you typically hear from fear-mongers).

  • If Christians rely on the government for financial transactions, they could be pressured to comply with policies that violate their faith or risk losing access to their own money.
  • Some Christian ministries, churches, and individuals have already faced debanking (being denied financial services due to their beliefs). (Canada Trucker Protest in 2022, China’s Social Credit System)
  • CBDCs (Central Bank Digital Currencies) can be programmed to restrict what people are allowed to spend money on. Giving to certain types of organizations could theoretically be restricted.
    • Reality Check: We don’t have this in the USA yet.
  • Loss of privacy and anonymity.

We are pointing out a lot of points that might incite fear. At what point are we feeding into fear? How do we avoid going into full panic mode, and instead run to Scripture to give us wisdom on how to prepare?

 

Will The Government Get Rid of Cash?

First, stop watching the news so much. Right now it’s at roughly 95% digital. All you do is move “digits” from one account to another. It’s not cash. (Ramsey Show)

Is the US going to remove the actual cash dollar? We don’t think so. Most of what you are reading is driven by fear by people who want you to buy Gold or something else. 

But we are already operating in a predominately “digital” economy. 

  • The negative outlook: The Government has all of the digits, and they will control my life.
  • The reality check: The Government has your digits, and they don’t control your life with those digits. (Ramsey Show)

Biblical wisdom on preparedness. Remember: there are limits to our preparation!

Instead of focusing on stockpiling gold or ammunition, stockpile verses of Scripture to feed your faith in the face of uncertainty and fear. What you fear might tell you something about what you are trusting in.

Take off the tinfoil hats! God is so much bigger than that.

The gates of hell will not prevail against Christ’s Church.

Practical verses

  • Storing Resources for Uncertain Times
    • Proverbs 6:6-8 – “Go to the ant, O sluggard; consider her ways, and be wise. Without having any chief, officer, or ruler, she prepares her bread in summer and gathers her food in harvest.”
  • Avoiding Excessive Dependence on Authorities
    • Proverbs 22:7 – “The rich rules over the poor, and the borrower is the slave of the lender.”
  • Exercising Discernment in Changing Times
    • 1 Thessalonians 5:6 – “So then let us not sleep, as others do, but let us keep awake and be sober.”
  • Keeping Wealth in Multiple Forms
    • Ecclesiastes 11:2 – “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”

 

Practical Steps for Wise Stewardship

  • Stay financially literate: understand how payments work and where your data goes.
  • Use digital tools to track spending and maintain accountability.
  • Use digital tools to track spending and maintain accountability. The reality is, if you are concerned about your ability to budget, a “cashless” budget may actually help you be MORE accurate. 
    • If you are prone to overspending with a card, consider other methods like:
      • Putting a spend limit on your debit card.
      • Freezing/disabling your credit card. Make it harder to use.
      • Get good accountability to make sure you don’t overspend.
  • Ultimately, operate with integrity, always. God calls us to be shrewd and faithful.

 

Stewardship Application

  • A cashless society may change how we transact, but it doesn’t change our call to faithful stewardship. Are you managing money wisely in this digital age?
  • Your stewardship management today will clearly impact your tomorrow!  Be wise today, so when things change (and they will), potentially your past stewardship and actions will lead you well with the “new” normal. 

Seek wisdom, plan ahead, and trust in God—not the financial system.

 

 

 

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