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I'm in agreement with the article and the linked Twitter thread about the dangers of a cashless society. Cashless is a place where I've definitely done a 180 -
by mindvirus 5y ago
I'm in agreement with the article and the linked Twitter thread about the dangers of a cashless society. Cashless is a place where I've definitely done a 180 - even 5 years ago I would have been 100% for a cashless and crypto based society.
In addition to the power it would give governments and mobs as the article points out, there's already a growing group that's increasingly locked out of society as we transition to a more digital world: people in poverty and the undocumented (often one and the same). You can imagine how a cashless society can create increasing feedback loops of poverty as more and more goods and services are unobtainable to people on the bottom rungs of society.