| Topic: | Re:The cashless society: is it time? | Forum Home |
| Posted by: | Brian Woodgate | |
| Date/Time: | 06/07/17 12:22:00 |
| If you're not able to walk out of the bank with your money in your pocket it isn't truly yours, and you are vulnerable to all manner of state controls and rules such as negative interest rates that governments may use to stimulate spending in difficult times. Many central banks are already talking about this. There is also a privacy downside, whereby you will be unable to make any kind of transaction, like buying a bar of chocolate, without there being a record of it in a searchable database somewhere. It's a terrible idea. |