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The implications of a cashless society on privacy are terrifying

• awakeasleep 8y ago
  The implications on life for the poor are terrifying! Businesses would love to be able to exclude people too poor to use their services from society- It's a real ugly situation. Like a decentralized apartheid based on financial status. Without the government stepping in and trying to prevent this discrimination, there is no one to stand up for these human being's lives
  • Broken_Hippo 8y ago
    "Businesses would love to be able to exclude people too poor to use their services from society" I'm pretty sure there are large swaths of society that would really hurt even though some would exclude folks. Everything from fast food to grocery stores to cheap clothing outlets.
  • IshKebab 8y ago
    I don't see what any of that has to do with using cash vs using a prepaid debit card. Are you thinking about credit checks to stop poor people getting phone contracts? Because that already happens and cash existing hasn't stopped it.
  • Nextgrid 8y ago
    > Businesses would love to be able to exclude people too poor to use their services from society How would that work, and what's the incentive for it? People who can't afford a business' service are already excluded from it by definition, regardless of payment method. For those who can afford it, what's the incentive for the business to turn them away and not profit off them?
• _red 8y ago
  The monetary implications are even scarier. The real reason they are pushing for "cashless society" is so they can impose negative interest rates. Since you won't have the option to withdraw your funds into cashier, you bank balance will be debited monthly as a privilege for giving the bank money. Its their next hairbrained scheme to try and shore up their ponzi-scheme economy.
  • theamk 8y ago
    I don't see how this will work, unless every country does this, or your currency becomes non-convertible. And even then, you would still be able to buy stocks, expensive jewelry, gold, houses and so on.
    • _red 8y ago
      >I don't see how this will work, unless every country does this, or your currency becomes non-convertible. You say this as if tax fraud is a consequence free activity. >And even then, you would still be able to buy stocks, expensive jewelry, gold, houses and so on Sure, but everyone will do that, so those asset prices will surge making it a poor investment
    • repolfx 8y ago
      And even then, you would still be able to buy stocks, expensive jewelry, gold, houses and so on. Yes, that's the idea! The point of negative interest rates is to force people to buy things, thus jacking economic growth like caffeine to a coffee addict. So this is hardly any solution.
• mistrial9 8y ago
  tracking the sources of income for an individual, without exception, is also part of this story