On the future of a cashless economy in Singapore, SMU Assistant Professor of Sociology Alwyn Lim noted that “most of our cash and payment systems are very highly integrated”, with many Singaporeans already engaged in cashless transactions for the majority of their transactions. "The move towards a cashless society would make money purely representational and completely divorced from even its paper form, which in itself was already symbolic of gold reserves in the previous period," added Assistant Prof Lim.