But in this crisis, things are different. This time cash itself, passed from hand to hand across neighborhoods, cities, and societies just like the coronavirus, is a source of suspicion rather than reassurance.
No longer a thing to be shoved mindlessly into a pocket, tucked into a worn wallet or thrown casually on a kitchen counter, money’s status has changed during the virus era — perhaps irrevocably. The pandemic has also reawakened debate about the continued viability of what has been the physical lifeblood of global economies: paper money and coins.
From the supermarkets of the United States and Japan to the shantytowns of Africa to the gas stations of Tehran, a growing number of businesses and individuals worldwide have stopped using banknotes in fear that physical currency, handled by tens of thousands of people over their useful life, could be a vector for the spreading coronavirus.
Public officials and health experts have said that the risk of transferring the virus from person to person through the use of money is minimal. That hasn’t stopped businesses from refusing to accept currency, and some countries from urging citizens to stop using banknotes altogether.
In the midst of the coronavirus era, a thousand calculations are made before cash is handled — mostly with gloved hands. Some leave the money laid out on surfaces for days, for the virus to die. Others disinfect banknotes with spray. Some even microwave them in the belief it kills the virus. In China, banks are now required to sterilize cash with ultraviolet light or heat, then store notes for at least a week before they are given to customers.
This story is from the May 22, 2020 edition of AppleMagazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 22, 2020 edition of AppleMagazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Apple Set to Unveil New iPads at
Apple Inc. has officially announced its upcoming “Let Loose” event scheduled for May 7, signaling a significant showcase of new hardware, specifically focusing on the iPad line.
AMAZON REPORTS STRONG 10 RESULTS DRIVEN BY ITS CLOUD-COMPUTING UNIT AND PRIME VIDEO AD DOLLARS
Amazon reported this week strong results for the first quarter, driven by growth in its cloud computing unit and new advertising dollars from its Prime Video streaming service.
META UNDER FIRE FROM EUROPEAN UNION FOR NOT DOING ENOUGH ABOUT ELECTION DISINFORMATION
The European Union said this week that it’s investigating Facebook and Instagram for suspected violations of the bloc’s digital rulebook, including not doing enough to protect users from foreign disinformation ahead of EU-wide elections.
THE TIKTOK LAW KICKS OFF A NEW SHOWDOWN BETWEEN BEIJING AND WASHINGTON.WHAT'S COMING NEXT?
TikTok is gearing up for a legal fight against a U.S. law that would force the social media platform to break ties with its China-based parent company, a move almost certainly backed by Chinese authorities as the bitter U.S.China rivalry threatens the future of a wildly popular way for young people in America to connect online.
SCAMMERS STOLE MORE THAN $3.4 BILLION FROM OLDER AMERICANS LAST YEAR, AN FBI REPORT SAYS
Scammers stole more than $3.4 billion from older Americans last year, according to an FBI report released this week that shows a rise in losses through increasingly sophisticated criminal tactics to trick the vulnerable into giving up their life savings.
SAMSUNG REPORTS A 10-FOLD INCREASE IN PROFIT AS AI DRIVES REBOUND IN MEMORY CHIP MARKETS
Samsung Electronics reported this week a 10fold increase in operating profit for the last quarter as the expansion of artificial intelligence technologies drives a rebound in the markets for computer memory chips.
LAWMAKERS AND ADVOCATES MAKE LAST-DITCH PUSH TO EXTEND AFFORDABLE INTERNET SUBSIDY
Twenty-three million families in the U.S. will have bigger internet bills starting in May. That’s because a federal broadband subsidy program they’re enrolled in is nearly out of money.
ELIMINATION OF TESLA'S CHARGING DEPARTMENT RAISES WORRIES AS EVS FROM OTHER AUTOMAKERS JOIN NETWORK
Elon Musk’s move to lay off the department responsible for Tesla’s electric vehicle chargers has touched off worries in the auto industry that EVs from other automakers will have trouble joining Tesla’s network.
US TO REQUIRE AUTOMATIC EMERGENCY BRAKING ON NEW VEHICLES IN 5 YEARS AND SET PERFORMANCE STANDARDS PASS
In the not-too-distant future, automatic emergency braking will have to come standard on all new passenger vehicles in the United States, a requirement that the government says will save hundreds of lives and prevent thousands of injuries every year.
'SHARDLAKE' IS A TUDOR-ERA MYSTERY SERIES.IT'S ALSO A WIN FOR DISABLED CHARACTERS ITS STAR SAYS
Matthew Shardlake steps out of the pages of the late C.J. Sansom’s popular historical mystery novels and into a new show, bringing with him disability representation.