Follow Slashdot stories on Twitter

 



Forgot your password?
typodupeerror
For the out-of-band Slashdot experience (mostly headlines), follow us on Twitter, or Facebook. ×
The Almighty Buck

+ - Surviving the cashless cataclysm-> 1 1

MrSeb writes: "There's been a lot of noise about Sweden becoming a cashless economy, and the potential repercussions that it might cause, most notably the (apparent) annihilation of privacy. Really, though, I think this is a load of hot air. Physical money might be on the way out, but that doesn't mean the end of anonymous, untraceable cash — it'll just become digital. If Bitcoin has taught us anything, it's possible to create an irreversible, cryptographic currency — but so far it has failed because it doesn't have sovereign backing. What if the US or UK (or any other country for that matter) issued digital cash? We would suddenly have an anonymous currency that can be kept on credit chips (or smartphones) and traded, just like paper money. No longer would handling money require expensive cash registers, safes, and secure collections; your smartphone could be your point of sale. It won't be easy to get governments to pass digital cash into law, though, not with big banks and megacorps lobbying for centralized, electronic, traceable currency. Here's hoping Sweden makes the right choice when the referendum to retire physical money finally rolls around."
Link to Original Source
This discussion was created for logged-in users only, but now has been archived. No new comments can be posted.

Surviving the cashless cataclysm

Comments Filter:

Have you ever noticed that the people who are always trying to tell you `there's a time for work and a time for play' never find the time for play?

Working...