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Why We Should Fear A Cashless World (theguardian.com)

Posted by BeauHD on from the the-digital-world dept.

An anonymous reader writes: Dominic Frisby writes with a very interesting, albeit heavily opinionated, article from The Guardian discussing why we should all fear a cashless world. He argues "it will hand yet more power to the financial sector in that banks and related fintech companies will oversee all transactions." Every payment you will make will be traceable. While inequality is already a problem, it may be exacerbated even further in a cashless society. Frisby writes, "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."

5 of 388 comments (clear)

  1. Re: Direct Trade by Anonymous Coward · · Score: 5, Funny

    I'm OK with this. Particularly if it finally means the adoption of Thunderdome as the chief method of conflict resolution.

  2. First world problem by PopeRatzo · · Score: 3, Funny

    I don't know any transsexual hookers who take bitcoin.

    --
    You are welcome on my lawn.
  3. Re:Fiat currency is also a problem by starless · · Score: 5, Funny

    In the case of a zombie apocalypse or stock market crash, cash paper might become as valuable as toilet paper.

    So, extremely valuable?

  4. Re:How anonymous is cash? by fahrbot-bot · · Score: 5, Funny

    Isn't cash similarly not-really anonymous though? Each bank note has a unique serial number on it ...

    That's why I buy everything using pennies. Sure, buying the house and car was a bitch and my carry-on is troublesome at the airport, but the extra privacy is so worth it.

    --
    It must have been something you assimilated. . . .
  5. Re: Direct Trade by Outta_the_way_peck! · · Score: 5, Funny

    With those tiny hands? Not a chance!