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Why We Should Fear a Cashless World


Business  (tags: Contactless payments, Banks and building societies, Consumer affairs, Surveillance, Privacy, Poverty, Social exclusion, Equality )

Judy
- 1179 days ago - theguardian.com
Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance.



   

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Comments

Past Member (0)
Tuesday March 22, 2016, 5:17 am
THANKS FOR SHARING JUDY
 

Past Member (0)
Tuesday March 22, 2016, 12:19 pm
Thank you.....nice basic article about C-less society. Read a zillion since 95'. What's interesting is that it's in the Guardian. Nice to see it......perhaps, too little too late?? None the less, nice to see it...please by all means keep printing such types of articles.

"In a world without cash, every payment you make will be traceable." "Do you want governments (which are not always benevolent), banks or payment processors to have potential access to that information?"

I see your point, but imo, that ship has already sailed. "They" can trace every payment now, if not by computer, than by store camera video/surveillance tape they can easily access when they want/need to see you paying in cash. (Oh, and did you really need to type, 'which are not always benevolent'??) I mean, really?!?

"Cash, on the other hand, empowers its users. It enables them to buy and sell, and store their wealth, without being dependent on anyone else. They can stay outside the financial system, if so desired."

Sentence #1 and #2 are correct, but maybe not sentence #3. Check my comment above.

Overall an article with some good reminders.




 

Doris F (19)
Wednesday March 23, 2016, 5:31 am
tyfs
 

Past Member (0)
Wednesday March 23, 2016, 7:10 am
But don't forget money isn't everything
 

Roberto MARINI (88)
Wednesday March 23, 2016, 10:43 am
Very interesting

News
 

Roro l (0)
Wednesday March 23, 2016, 3:04 pm
thanks
 

Judy C (91)
Thursday March 24, 2016, 6:13 pm
I would hope people will successfully resist a cashless society. It has never seemed as much of a likelihood until now.
 
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