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> from an environmental standpoint From an environmental standpoint all banknotes should be shredded and burned and everyone should use contactless means of pa

> from an environmental standpoint From an environmental standpoint all banknotes should be shredded and burned and everyone should use contactless means of payment.

themaninthedark 3y ago
Why? Are you sure it is more environmental to keep all the computers, the network and other related infrastructure running (powered on, security updated, etc.) than it is to print and distribute banknotes every so many years and associated costs with that?
- justsomehnguy 3y ago
  Because we already keep all the computers, the network and payment processing anyway. Like 99% of physical payments are already involves computers anyway, even if it is done with a paper/plastic note. So it's not "replace notes with computers" but "get rid of notes because computers are there anyway". Anecdote: I don't have a card linked to Uber, so I pay with a cash or a C2C transfer. In the last two years if I ask the driver if they prefer cash or C2C they consistently prefer C2C - because it's way less hassle for them and also they often claim they are short on change. And in the another anecdote I still carry cash on me but I use it only for a taxi rides and a one local smallware shop, so they wouldn't need to pay the processing fee for the 50c things.
ericfr11 3y ago
I agree. The impact (cost, energy...) is nothing compared to TikTok video streaming. Economy of scale
pineaux 3y ago
Is this true tho?
usr1106 3y ago
I doubt that. Computing has a greenhouse effect similar to air traffic. Edit: While true that's maybe not a good argument. Financial processing hardly is the biggest culprit. The worst impact / benefit ratio are probably video and ad distribution. However, if you think how much Chinese (and similar) goods a $20 or 50€ note buys during its lifetime the impact of shipping the banknote material seems negligible.
a5withtrrs 3y ago
Sure. And we should do nothing but subsistence farming as well. But that's not really practical.

> from an environmental standpoint From an environmental standpoint all banknotes should be shredded and burned and everyone should use contactless means of payment.

themaninthedark 3y ago

Why? Are you sure it is more environmental to keep all the computers, the network and other related infrastructure running (powered on, security updated, etc.) than it is to print and distribute banknotes every so many years and associated costs with that?

justsomehnguy 3y ago
Because we already keep all the computers, the network and payment processing anyway. Like 99% of physical payments are already involves computers anyway, even if it is done with a paper/plastic note. So it's not "replace notes with computers" but "get rid of notes because computers are there anyway". Anecdote: I don't have a card linked to Uber, so I pay with a cash or a C2C transfer. In the last two years if I ask the driver if they prefer cash or C2C they consistently prefer C2C - because it's way less hassle for them and also they often claim they are short on change. And in the another anecdote I still carry cash on me but I use it only for a taxi rides and a one local smallware shop, so they wouldn't need to pay the processing fee for the 50c things.

ericfr11 3y ago

I agree. The impact (cost, energy...) is nothing compared to TikTok video streaming. Economy of scale

pineaux 3y ago

Is this true tho?

usr1106 3y ago

I doubt that. Computing has a greenhouse effect similar to air traffic. Edit: While true that's maybe not a good argument. Financial processing hardly is the biggest culprit. The worst impact / benefit ratio are probably video and ad distribution. However, if you think how much Chinese (and similar) goods a $20 or 50€ note buys during its lifetime the impact of shipping the banknote material seems negligible.

a5withtrrs 3y ago

Sure. And we should do nothing but subsistence farming as well. But that's not really practical.