Slashdot Mirror
IEEE Spectrum Digs Into the Future of Money
New submitter ArmageddonLord writes "Small, out-of-pocket cash exchanges are still the stuff of everyday life. In 2010, cash transactions in the United States totaled $1.2 trillion (not including extralegal ones, of course). There will come a day, however, when you'll be able to transfer funds just by holding your cellphone next to someone else's and hitting a few keys — and this is just one of the ways we'll wean ourselves off cash. In 'The Last Days of Cash,' a special report on the future of money, we describe the various ways that technology is transforming how we pay for stuff; how it's boosting security by linking our biometric selves with our accounts; and how it's helping us achieve, at least in theory, an ancient ideal — money that cannot be counterfeited."
Banks cannot print money out of thin air and use it to pay off their debt. Only government can do that, because government makes the rules.
You're not going to wave your cellphone over a stripper.
You are if you're using four square to me mayor of that stripper ;-) The fun is finder her QR code.