Wednesday, July 18, 2012

Living in a Cashless Society


There have been comments resistant to the idea of a cashless society ranging from decreased privacy to higher-tech crime to corporate control and technological vulnerabilities.
“Without strict laws, too, a cashless society will be one in which you lack fiscal privacy.” – James

“The thing that galls me is that as soon as we adopt something like that, we will see banks and other intermediaries will start charging us various fees for the convenience. And once we are past cash, we are hostages to those parasites. Ecobank now charge N200 monthly for debit card maintenance.” – Adeniyi

“Can you imagine what might happen if electrical storms, solar flares disrupt telecommunication or electrical grid…and we are already cashless? Besides, I’d rather lose my wallet to a street thug than losing my entire portfolio to the hacker-friendly system of paperless currency!” – Stacey

Another method that can be used to make financial identification more secure is to use implantable RFID microchips. :::MORE HERE:::

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