Cashless society: easy efficiency or a step futher in your enslavement?

simonfinkelstein (37)in #cashless • 7 years ago

If you look at the corporate controlled media, cashless means good, efficient, progress and easier business.

If all transactions would be cashless:

banks get a transaction fee on every transaction,
can sell big data on your consumer behavior,
monitoring your consumer behavior by the government and corporations through phone use,
hacking security risk of your privacy data,
if a bank does a bail in you have no reserves outside the banking system,
in case of systemic technical trouble there is no alternative, you can't buy food,
if you have debt or fiscal issues/claims the account can be shut down.... and then.

Also banks want to ban bigger notes, so you can't take big value in small practical size with you.

So a lot of disadvantages and restrictions on your personal freedoms and choices.

What do you think?

7 years ago in #cashless by simonfinkelstein (37)