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I use a credit card for 95%+ of my transactions. At the same time, I'm scared of a cashless future. As the article mentions, cash transactions are one of the la

I use a credit card for 95%+ of my transactions. At the same time, I'm scared of a cashless future. As the article mentions, cash transactions are one of the last vestiges of privacy that we have. A future where the US looks like China, where all of your transactions are visible, is not something I want to see. Additionally, cash is an equalizer for the unbanked/underbanked. Financial institutions take advantage of and punish their least profitable customers. Those who can barely afford overdraft fees, monthly checking account fees, etc. are the only ones who are forced to pay them. Yes, blockchain technologies can solve some of these problems, but there will always be those who are outside of the banking system, lose/don't have a smartphone, etc. Greenbacks are tangible to the person standing in line to cash a paycheck at Western Union - Ethereum isn't.

lithos 8y ago
You're afraid of the loss of privacy, then immediately suggest block chain as a solution to a related problem.
- krageon 8y ago
  It's ridiculous on the face of it (especially as they suggest Ethereum), but there are in fact blockchains that preserve the anonymity of the people involved in the transaction. I'm a little sad these distinctions aren't more well-known.
phobosdeimos 8y ago
In my country banks can't refuse clients for a standard checking account. Besides how in gods name can someone even function in an advanced economy without a bank account? People have been paying with plastic since the late 80s. Its free, safe and its easier for the tax man to collect. I used to work night shifts in retail. You don't want to deal with cash.
- kwhitefoot 8y ago
  > People have been paying with plastic since the late 80s I've had my Barclaycard since 1972, when I was 16.