by Frank Bergman, Slay News:
One of Australia’s leading banks has announced that it is closing down all of its physical branches as it makes the shift to becoming 100 percent digital.
The move comes as Australia continues to usher in the “cashless society” agenda pushed by the World Economic Forum (WEF).
As Slay News previously reported, the WEF has been calling on governments around the globe to begin ushering plans to eliminate physical cash and roll out digital “money.”
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The WEF published a new report on Central Bank Digital Currencies (CBDCs) to coincide with its “Summer Davos” event in Communist China last summer.
In its report, the WEF praises CBDCs, calls for “public-private partnerships” on digital cash, and urges governments to begin “advancing cashless societies.”
In Australia, several major banks have responded to the demands from the WEF by phasing out the use of physical cash as they prepare for the coming “cashless societies.”
The move is seen by many as preparation for the rollout of Central Bank Digital Currencies (CBDCs).
The global rollout of CBDCs will usher in technocratic authoritarianism in the form of “cashless societies,” where all privacy in trade is lost and banks and governments will control access to all of your money.
Over the past year, the Australian government and central bank have been involved in a beta test for a world with no physical cash.
Australian banks are now starting to close their branches as they make the shift to becoming all-digital.
Bankwest, a subsidiary of the Commonwealth Bank of Australia (CBA), has announced that it is closing 45 of its branches and transitioning the remaining 15 CBA branches to go fully digital by October 2024.
This announcement comes as Sydney-based banking software company Constantinople, a startup founded by two former executives of major bank Westpac, unveils a new app called Business+.
The company claims that this app will be an all-in-one mobile app that can offer Australia’s first end-to-end digital banking platform for the country’s 2.4 million businesses with fewer than 10 employees.
