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With many countries already heading towards cashless transactions, we are facing some hard decisions. These decisions will be made whether we ignore them or not, so to have a say it is essential to be active. These are not new issues, but they are quickly approaching. Dominic Frisby at The Guardian is the latest to take up some of the pertinent questions around the move to a cashless society.
Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance.
Source: Why we should fear a cashless world
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In a World Without Cash, Every Payment You Make Will be Traceable
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The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
You can't cross a large chasm in two small jumps.
(Score: 2) by krishnoid on Friday July 21 2017, @08:55PM (5 children)
It couldn't be that hard to create cash machines at stores that scan serial numbers of all incoming and outgoing bills and upload them someplace. Why isn't this considered a possible issue with cash as well?
(Score: 2) by LVDOVICVS on Friday July 21 2017, @09:00PM
Some people already do that for fun. I've seen bills stamped with this website. https://www.wheresgeorge.com/ [wheresgeorge.com]
(Score: 0) by Anonymous Coward on Friday July 21 2017, @10:30PM (1 child)
Because until absolutely every last place is logging every transaction, the partial trail is pretty useless.
"This bill you got out of an ATM last night was used for something illegal the next day."
"I owed my booky and paid him that night."
...
(Score: 1) by khallow on Friday July 21 2017, @11:27PM
"I was walking around town last night and had a couple of loose 20s in my pocket. They must have fallen out somewhere.
(Score: 2) by sgleysti on Saturday July 22 2017, @04:35AM (1 child)
Since stores don't also require your ID when you pay cash, this is far less of a definitive link of monetary transactions to individual persons.
Even if every bank and ATM required ID for withdrawal and recorded the serial numbers, you could potentially engage in cash transactions with other people, and then the link is broken.
(Score: 2) by Pino P on Saturday July 22 2017, @05:34PM
Unless the purchase includes at least one of alcohol, tobacco, medication, R-rated movies, M-rated video games, spray paint, spray sealant, or anything else on the growing list of products whose purchase by a minor is a status offense.