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China Is On Track To Fully Phase Out Cash (vice.com)
An anonymous reader shares an excerpt from a report via Motherboard: Experts believe it won't be long before China, the first country to introduce paper money, becomes the first to go totally cashless. In a poky sex toy shop in Sanlitun shopping district in central Beijing, a placard with a QR code is strategically placed next to a pink, vein-knobbled dildo called the Super Emperor, and a clitoral pump. Just scan your phone, and walk out with your purchase. The cigarette vendor across the street accepts smartphone payments too. A fast-moving queue of customers purchase smokes by scanning their phones over a tatty cardboard QR code. All the bars in Sanlitun, equal parts seedy and swish, still take cash, but have likewise implemented cashless pay, largely through the ubiquitous WeChat and Alipay app, as primary payment platforms. Beijing taxi drivers accept smartphone payments too. No one in the area uses physical money, for sex toys or otherwise. Largely due to China's vibrant fintech landscape, the recent rise of phone payments in the country has shunted cash onto the endangered list, perhaps somewhere alongside the pangolin. Many experts believe it won't be long before China, the first country to introduce paper money, also becomes the first to phase it out to become fully cashless. But when will this moment come?
Also known as "China wants us to believe that China Is On Track To Fully Phase Out Cash".
I've toured rural China with my Wife's family. Most folks outside the big cities only have power during the day, unless they are lucky and own a generator.
My UID is prime and so is this number: 09 F9 11 02 9D 74 E3 5B D8 41 56 C5 63 56 88 C0.
Hard currency gives a person SOME freedom over goods and services they purchase. Make all transactions digital, no matter what, and the banks and governments can control what you buy, how much of it or denies it. Once it goes digital, the government can change a stupid law, tying anything to "healthcare". Sorry Bob...you last health check shows you to be 25 pounds over what WE SAY you should weigh...you can't buy that burger and fries, but we will let you buy a tofu salad and a glass of water (at double the price). Sorry Jill...according to our records, you have 2 accidents within the past year, both in SUV's, plus, you are spending way too much on fuel. You can't buy this new SUV, but, we have authorized purchase of a bicycle, and, your loan has been approved, but not for that house in the country. We think it would be best, if you have a smaller cramped apartment, near your job, so you can bicycle to work. This will also cut your carbon footprint, and help you exercise. Laugh now, but don't say it won't happen.
The federal reserve note is a *promise to pay*.
Nope. It hasn't been a promise to pay anything to Americans since FDR decided to steal all the gold in the country, and it hasn't been a promise to pay foreigners since Nixon reneged on the Bretton Woods treaty.
-jcr
The only title of honor that a tyrant can grant is "Enemy of the State."
Don't worry. Before we need to take cash from your cold dead heads; society will have replaced currency with a different barter system. Happened plenty of times in history. Especially in times of currency crisis, war, etc. Also look at prisons to learn how micro societies deal with the problem: in many prisons are packs of cigarettes the popular means of payment.