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| Cashless Australia |
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| cdev:
I am reading all these articles about how Australia is going cashless. Clearly the online companies are ecstatic. What do you think? I'm worried about natural disasters if you cant access your bank account, how will you pay? If there is a solar storm that wipes out the grid, how will you pay? If you have a negative balance, how will you access toll roads? Video Link: https://therealnews.com/stories/who-is-fighting-war-against-cash-visa-mastercard-bill-gates Do you use your cell phone to pay now? Obvious, peoples lives will become an open book to the information brokers. In India they just demonetized, suddenly the two top denominations of cash became worthless. Millions of poor Indians lost their life savings. The Modi government didn't seem concerned. It later came out that a US group, the Better Than Cash Alliance had been involved, calling the Indian demonetization their pilot project. In a cashless society any problem could become a major disaster very quickly. Also it gives too much power to companies that should never have become as big as they are. IMHO. We see the problem with the GAFA companies. (Google Apple Facebook Amazon) http://NorbertHaering.de has been tracking the cashless issue. reference example: https://www.abc.net.au/news/2020-06-09/australia-can-learn-from-swedens-move-to-a-cashless-society/12282764 another relevant link: Readings from "The Digital Poorhouse, Automating inequality" |
| ataradov:
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. |
| themadhippy:
--- Quote ---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. --- End quote --- In a cashless society one failure and your screwed,for example the supermarkets cant take cards,as has happened several times in the uk, no way to buy your shopping,however with the cash machines still working your able to get cash to pay for your goods |
| ataradov:
What is exactly the nature of the failure that makes all supermarkets not accept cards, but ATMs work? What if all supermarket cash registers jammed? The won't be able to give you change, so you can't buy anything. This sounds to be as likely as card payments not working , yet ATMs working. Those things are connected to the same backend. |
| themadhippy:
--- Quote ---What is exactly the nature of the failure that makes all supermarkets not accept cards, but ATMs work --- End quote --- https://www.bbc.co.uk/news/world-55805777 |
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