4 ms·
More appropriate name would be "dystopia" because banning cash will have mostly adverse effects, intruducing nearly-totalitarian control over the citizens being
by mamon 8y ago
More appropriate name would be "dystopia" because banning cash will have mostly adverse effects, intruducing nearly-totalitarian control over the citizens being the most important one.
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- nhauz 8y agoIt's a utopia for big companies and governments, which are the ones paying for the op-eds that praise cashless societies.
- vertline3 8y agoThey could say your rating is not high enough, you are now cut off completely. Or they would know all spending so it would be a bit nosey. And then people would not spend on things causing money circulation to slow, but maybe that is offset a bit by ease of swiping a card.
- solarwind 8y agoIf you are a Canadian citizen who ever used a credit/debit card at a cannabis dispensary (or if you even just invested or worked for a Canadian dispensary), you are now permanently barred from entering the United States. A cashless society is a totalitarian society.
- berdario 8y agoIs this for real? How would the the DHS or another US entity know about payment transactions made on a canadian bank account? And, I realize that cannabis is not legal at the federal level in the US, but how would lawfully purchasing a cannabis product years ago disqualify you from entering the US?
- vetinari 8y agoI don't know about this specific case, but if you used a credit or debit card, it would be processed by Visa or Mastercard, which are both US companies, subject to US laws and regulations. That's how the US entities would know.
- Latteland 8y agoIt's for real and the idiotic border police in the us have started asking people about it. https://www.cbc.ca/news/politics/smoke-pot-us-border-1.4718571 https://www.cbc.ca/news/politics/smoke-pot-us-border-1.47185...
- jnurmine 8y agoSounds more like Canada needs something like Swish which does not share any payment/merchant data with the US. But isn't there something like that already for Canadians?
- emerongi 8y agoImplementation is key here. If a new method can be introduced which offers the same benefits of cash while being digital, open-source and on open hardware, I don't see a huge problem. Alas, such a solution would probably be extremely hard to create and therefore never will be.
- xc101 8y agoThese discussions are always closely observed by the fintech startup people.