Submitted via IRC for AndyTheAbsurd
All over the western world banks are shutting down cash machines and branches. They are trying to push you into using their digital payments and digital banking infrastructure. Just like Google wants everyone to access and navigate the broader internet via its privately controlled search portal, so financial institutions want everyone to access and navigate the broader economy through their systems.
Another aim is to cut costs in order to boost profits. Branches require staff. Replacing them with standardised self-service apps allows the senior managers of financial institutions to directly control and monitor interactions with customers.
Banks, of course, tell us a different story about why they do this. I recently got a letter from my bank telling me that they are shutting down local branches because "customers are turning to digital", and they are thus "responding to changing customer preferences". I am one of the customers they are referring to, but I never asked them to shut down the branches.
Source: The cashless society is a con – and big finance is behind it
(Score: 2) by Phoenix666 on Saturday July 21 2018, @12:23PM (4 children)
I was going to respond, but got too depressed.
Washington DC delenda est.
(Score: 1, Funny) by Anonymous Coward on Saturday July 21 2018, @01:44PM (3 children)
Fight the power, use technology to take back control. Blockchain doesn't have to be owned by big banks, everyone can issue their own currency.
(Score: 3, Funny) by Gaaark on Saturday July 21 2018, @02:07PM (2 children)
Anyone for a nice block of Soylent-chain?
--- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---
(Score: 2) by JoeMerchant on Saturday July 21 2018, @08:14PM (1 child)
Can you code?
Do you have enough spare time to really contribute to a new project that's not "investor backed"?
Bitcoin itself is mired in big money because of proof of work. The big non-proof of work coins like XRP are mired in investor concerns over ROI. The basic technology can run on a wristwatch and is easily within the financial reach of most people who carry smartphones with a dataplan.
If we made Soylent-chain, we could trade mod points back and forth ;-)
🌻🌻 [google.com]
(Score: 0) by Anonymous Coward on Saturday July 21 2018, @10:24PM
This is what steem is for.
https://www.steemit.com/ [steemit.com]
Literally get paid in crypto for likes and upvotes on your content and also for liking and upvoting the content of others.