When the power goes out, cash is the only payment system that works

New research shows that digital payment systems fail during power outages and natural disasters. This means cash is still essential for people to buy things and for local economies to function when the grid goes down.

Everyone assumed that as digital payments grew, cash would become obsolete. This paper shows that assumption is wrong when the lights go out. It means governments and banks must plan for cash availability as a critical piece of disaster infrastructure, not just a relic.