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Posted
35 minutes ago, onetrack said:

often your day was spent working out where the public phones were so you could make contact with family and business contacts.

If the vandals hadn't trashed them.

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Posted

Indeed.. And Russia mandated that all receipts are digital so they can clean up on their VAT (GST) revenues: https://www.ft.com/content/38967766-aec8-11e9-8030-530adfa879c2

 

I read somewhere the UK was thinking of introducing its own stablecoin backed by the £ and wanting to get everyone onto it.. why? You can both track peoples' spending and direct who they spend it with.

 

Brave New World is arriving.

 

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Posted (edited)

And on the up side there will be no more brown paper bags of cash passing to pollies or crims. No more suitcases of notes for James Bond's baddies.

 

There is nothing to really fear.

 

I can always barter privately

Edited by nomadpete
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Posted

@nomadpete - I hope you're right. The road to hell is, however, paved with good intentions, and I think that when you mix in corrupt politicans, over-zealous tax offices, cyber crims and the like, and a touch of opacity, call me a conspiracy theorist, but I am not as confident as you are.

 

Sure, carrying cash also isn't perfect, but we are talking politicians seeing and able to exert control on what you do with your money.

 

As Franklin D Roosevelt said:

image.thumb.png.7a21bc7cf1da198afd9e265f4302598d.png

Posted

It'll snow in Hell before they manage to ban cash transactions. But we will certainly keep coming under major pressure to eliminate cash from our society. The main pressure will come from the drive to eliminate drugs and drug dealers. The amount of cash involved in drug dealing blows your mind, the cops find multiple millions in drug cash stashes every second day.

Posted (edited)

OK Jerry, I take your point. The pollies and their puppeteers are likely to find new 'quiet' electronic methods to reward the puppets without resorting to recyclable brown paper bags filled with unmarked notes. Once the crims develop new methods for them to copy.

 

I was only trying to find a less depressing facet of the change. At least the electronic methods of payment leave some sort of trace for honest coppers to track

 

Edited by nomadpete
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Posted

What better surname could you have as a politician, than "Cash".  There was always the standing joke when George Cash was a W.A. MP - "Just make out the cheque for Cash!"

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Posted
1 hour ago, nomadpete said:

OK Jerry, I take your point. The pollies and their puppeteers are likely to find new 'quiet' electronic methods to reward the puppets without resorting to recyclable brown paper bags filled with unmarked notes. Once the crims develop new methods for them to copy.

 

I was only trying to find a less depressing facet of the change. At least the electronic methods of payment leave some sort of trace for honest coppers to track

 

Sadly, the only use of blockchain is to provide an immutable state of a ledger at any one time. Because it solves Byzantine's Problem, the traceability of transactions to the current ledger are effectively lost.

 

Also, coincidentally, there was a post in my linked in feed from an ex-co worker, who, as it seems, is working on that very project in the UK. Let's just say I would be very scpetical of that co-worker's ability to do anything more than read the issues and regurgitate them.. no capability to contextualise the issue to specific scenarios or business. If that is the general level of people they have on it, the crims will be rubbing their hands with glee.

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