Dr. Jelena Stapf
Head of Cash Payment and Cash Strategy Division
BiographyJelena Stapf studied economics at the Universities of Bielefeld, Cologne, Paris and Kiel. She joined the Deutsche Bundesbank in 2000 and has been a senior economist of the capital markets group in the economics department. From 2015 to 2017 she took over responsibility for organising the German G20 Presidency from the part of the Bundesbank. Since 2018 she heads the Cash Payments and Cash Strategy Division.
About the companyDeutsche Bundesbank is the Central Bank of Germany.
PresentationThe bright and dark sides of cash
Despite one or the other is singing swan songs on the use of notes and coins, physical cash still is in great demand as a means of payment and a store of value in many countries around the world. I discuss the available evidence on illicit cash uses - sometimes called the dark side of cash - and the economic cost of making cash payments. Privacy, security, inclusiveness and reliability constitute some of the advantages of using cash and are therefore introduced as the bright side of cash. Weighing the arguments I conclude that cash will play a role in the future of money.