Ukraine Can Completely Give Up Cash

by Olha Povaliaieva
Friday, June 1, 2023
Ukraine Can Completely Give Up Cash

This will help the country overcome at least 95% of corruption schemes

Deputy head of the Ukraine president's office, Rostyslav Shurma, the author of the new tax reform, offers another bold and sensible idea — to give up paper money and digitalise all payments. 

This reform can become a powerful tool for overcoming: according to Shurma's calculations, at least 95%. So far, this is only an idea, and there are no guarantees that Ukraine will become the first completely cashless country. However, already at the first stage, Shurma's reform caused a wave of scepticism, primarily among the president's inner circle. The main argument of the opponents of this progressive idea is that forcing a citizen to refuse a crisp bill is a violation of his rights. Yes, such an argument can be considered, especially from the side of an 85-year-old grandmother who will pay for parsley in the market using a P2P transfer.

At the same time, the cashless settlement structure will, in record time, overcome the corruption and "nepotism" that generations of presidents have struggled with with minimal success.

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