I mean, it kinds seems inevitable to me. Books has become e-books. Cash is becoming digital transfers. China has done it. The west is mostly doing card-swipes. One day, that transition will be complete, and cash would be phased out.
What happens then? Think like the power outage in Spain recently. Some people had cash. But in 20-40 years. There might not even be any cash in existence. What then?
What if, instead of a few hours, its a few days? Or weeks?
I guess riots break out all around the world?
(Seriously, has none of the politicians ever thought about this? Where are the backups? Are we just going full “YOLO” on the reliance on the power grid?)
The answer is: We’re fucked.
People were warned of mass surveillance, and here we are, cameras everywhere, over the entire world. Everything is tracked. Same thing will happen to paper money and coins.
Cash is expensive for stores to manage, count, and sort. That’s the actual reason they want it gone, not tracking. Sure, we’re being tracked, but that’s not the point. Thanks to our phones, our personal lives have already been completely disseminated.
Cashless is about making things easier for businesses that struggle with handling cash. A cashless society acts like consuming goods from those businesses is the only reason money exists, and that’s wrong.