While the outlook for our economy remains unclear, so is the future of the pound in our pocket. The term “cashless society” was first coined in the 1990s, but only recently has it started to feel like a reality. The covid-19 pandemic has forced businesses to ditch physical currency for contactless payment, and as more of us shop online and use our smart phones and watches for instant payments, could the sight of a crisp £20 note become a thing of the past?
And what does the advent of digital currencies such as Bitcoin or Facebook’s ‘Libra’ mean for the future of our financial system and the way we buy things? Will we soon be juggling different currencies via our digital wallets?
In the first of our Invested in the Future events, Stephen King, a renowned global economist and bestselling author discusses the economic outlook and how our changing relationship with cash means the future of money has never looked so uncertain.Watch on-demand video
Broadcast Journalist and Host of Sunday Politics
Samantha Simmonds has been a journalist and broadcaster for more than 20 years – she is currently presenting on BBC World News where she covers international events of the day. She also presents Sunday Politics and has her own podcast, ‘It’s a Grown-Up Life’. She presented on Sky News for more than a decade anchoring coverage of some of the biggest stories of recent years. These included the murder of British MP Jo Cox, the EU referendum live from Gibraltar, several general elections and the terror attacks in Tunisia and Brussels. Samantha’s highlights while at Sky include presenting on location at Buckingham Palace for the Queens’s 90th Birthday, at the Olympic Park for the London 2012 opening ceremony, and presenting from outside Buckingham Palace during the royal wedding.
Economist and Author
Stephen King is HSBC’s Senior Economic Adviser and a successful author. Stephen’s latest book, Grave New World: The End of Globalization, the Return of History, was published by Yale University Press in May 2017. Later that year, Grave New World was longlisted for the FT-McKinsey Business Book of the Year prize and thereafter picked as a ‘book of the year’ by the Financial Times. Stephen’s previous book, When the Money Runs Out, was chosen as a “book of the year” by the Financial Times, the Economist and the Times. Stephen writes a regular column in the London Evening Standard, has penned articles for a number of leading newspapers worldwide and frequently appears on television and radio.
Stephen sits on the Council of Management of the National Institute of Economic and Social Research. Between 2015 and the 2017 General Election, Stephen was a special adviser to the House of Commons Treasury Committee. Stephen’s career began at H.M.Treasury, where he was an economic adviser within the UK civil service.