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Cashless Australia

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NiHaoMike:
Perhaps this is a good reason to support cryptocurrencies and a wireless mesh network (using LoRa or similar) to enable transactions without depending on the Internet.

25 CPS:

--- Quote from: Bud on March 08, 2021, 09:10:42 pm ---@ataradov:  AtM network is separate from direct payment ( merchant) network, at least in Canada. Sure they come to a same IBM mainframe at the bank, but this is a long way before they do.

--- End quote ---

This has to be 15-17 years ago now, but do you remember that spectacular failure TD had where all of their bank machines went down and the other four big banks blocked withdrawals by TD customers because they were afraid their machines would be raided and run out of cash but debit (Interac) kept working as normal?

cdev:
Very true, In the very realistic 2010 film "The Road" there is a post apocalyptic scene set in a supermarket that had been the scene of much bloodshed in a post apocalyptic landscape the empty building was filled with money in large denominations which were scattered around like leaves and blowing in the wind among skeletons and corpses. Maybe its on YouTube.


--- Quote from: ataradov on March 08, 2021, 08:25:15 pm ---How many people currently have stacks of cash on hand? If banks go out now, nobody would have access to the money anyway.

All those arguments are very tired and weak.

Also, with a major economic collapse your remaining cash on hand would be worthless anyway. Cash is worth anything only in a working economy.    See https://www.ilo.org/wcmsp5/groups/public/---dgreports/---inst/documents/publication/wcms_564702.pdf

--- End quote ---
Lots of info about the huge changes coming at ILO.They try to and put out highquality, info.

jonovid:
Australia may not have money on trees but there is plenty under the ground.
 if all else fails in an emergency, breakout the metal detector,

bdunham7:
Iceland has gone pretty cashless, but I don't see it happening completely in most countries for a while.  Last time I was in Germany, every restaurant claimed that their credit card machine was 'down' and asked me to pay cash.  And here in the good ol USA, the magnitude of the informal economy is so great that eliminating cash would cause complete chaos.  People would be trading goats.  And for those you that think crypto will fix this, well.... :-DD

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