The recent endorsements of Kamla Persad-Bissessar’s election manifesto by Vasant Bharath, Rushton Paray, and Phillip Alexander reflect naked lust for political office by genuflecting to an aging, intoxicated, and decrepit political leadership and a misguided allegiance to outdated ideas that threaten to stifle Trinidad and Tobago’s progress. Their support for Persad-Bissessar’s opposition to a cashless society reveals a shocking disregard for the immense benefits that such a transition would bring to the nation. Instead, this baseless support only underscores the price for re-entry into the UNC by these political rejects.
Persad-Bissessar along with Bharath, Parry, and Alexander argue for a hybrid system of cash and digital payments, but this is nothing more than a step backward at a time when the nation need to be surging ahead. The fearmongering surrounding the potential for government overreach in a cashless society is unfounded and distracts from the real issue: the need to modernize our economy.
Bharath and Paray’s support for a cautious approach to a digital economy is a clear indication that they are out of touch with the global trends that are rapidly transforming economies worldwide. Their emphasis on a “hybrid system” is nothing more than a thinly veiled attempt to cling to the status quo, which has already proven inadequate in addressing the economic challenges facing Trinidad and Tobago. In a world where cashless transactions are becoming the norm, their reluctance to fully embrace this shift is a disservice to the people they claim to represent.
Phillip Alexander’s alarmist rhetoric about the erosion of civil liberties in a cashless society is not only baseless but also dangerous. His warnings about a “nightmarish future” are nothing more than an attempt to sow fear and confusion among the public. The reality is that a cashless society, with the proper safeguards in place, can enhance transparency, reduce corruption, and promote financial inclusion. His failure to acknowledge these benefits reveals a profound misunderstanding of the potential that a digital economy holds for our nation.
The notion that a cashless society would allow the government to seize money from political opponents or violate privacy is not only absurd but also a gross misrepresentation of the facts. Such baseless claims are nothing more than fearmongering, designed to distract from the real benefits of modernizing our financial system. A cashless society would enhance financial transparency, reduce the risk of crime, and provide greater convenience and security for all citizens. It would also help combat money laundering and tax evasion, two issues that have long plagued our nation.
A transition to a cashless society is not about taking away people’s rights or imposing government control. It is about embracing a future where economic transactions are safer, more efficient, and more inclusive. The benefits of a cashless society are numerous:
Cashless transactions reduce the risk of theft and fraud, as digital payments can be traced and verified, making it harder for criminals to operate. Digital payments are faster and more convenient, allowing people to make transactions anytime, anywhere, without the need to carry physical cash.A cashless society can bring financial services to the unbanked and underbanked, providing them with access to banking services that they might not have had before. By reducing the costs associated with handling, transporting, and securing cash, a cashless society can lead to significant savings for businesses and governments alike. In societies like China and India even the beggars use apps to accept donations and do not accept cash donations.
Trinidad and Tobago stands at a crossroads. We can either choose to embrace the future and the opportunities that a cashless society offers, or we can remain stuck in the past, held back by unfounded fears and outdated thinking. The endorsements of Bharath, Paray, and Alexander for Persad-Bissessar’s regressive manifesto are a clear indication that they are not the leaders who will guide us into a prosperous future.
The people of Trinidad and Tobago deserve leaders who are bold, forward-thinking, and unafraid to embrace the challenges of the 21st century. A cashless society is not something to fear—it is something to be welcomed as a vital step towards a more secure, efficient, and inclusive economy. Let us reject the outdated ideas of the past and move forward with confidence, knowing that the future is bright for those who dare to embrace it.
Dr. Devant Maharaj, PhD, MBA