Your donations are appreciated and help keep this site running. Even the smallest amount helps.
Thankyou

 
PROMOTE YOUR SITE
HERE
Only $3 USD/month
TRUTHSPOON.COM
The man they can't recruit!
Welcome, Guest
Username: Password: Remember me

TOPIC: digital cash

digital cash 08 Feb 2015 05:37 #1

  • zax
  • zax's Avatar
  • Offline
  • Gold Member
  • Posts: 5825
  • Likes received: 1560
Ecuador becomes the first country to roll out its own digital cash
In 2000, Ecuador moved to ditch its stumbling currency for the U.S. dollar. Now more than 15 years later, the South American country is revamping its monetary system again—using digital currencies.
www.cnbc.com/id/102397137

A cashless society is part of the NWO plan.
Civil unrest globally,and wars unabated,and a one world religion.
Only registered members can reply. Create an Account to join the discussion.

digital cash 08 Feb 2015 06:23 #2

  • novum
  • novum's Avatar
  • Offline
  • Platinum Member
  • Posts: 17589
  • Likes received: 8189
Visit Ecuador! The eagle and the crystal ball... the eagle has landed...




I think most of us here can agree that cashless is one of the end goals.
1365 = 1

1.1365 = 1,283,305,580,313,352
Last Edit: 08 Feb 2015 06:24 by novum.
Only registered members can reply. Create an Account to join the discussion.

digital cash 08 Feb 2015 06:36 #3

  • Orangeaid
  • Orangeaid's Avatar
  • Offline
  • Platinum Member
  • Posts: 11659
  • Likes received: 8021
Only registered members can reply. Create an Account to join the discussion.

digital cash 08 Feb 2015 07:09 #4

  • zax
  • zax's Avatar
  • Offline
  • Gold Member
  • Posts: 5825
  • Likes received: 1560
Cashless Society? It’s Already Coming
I’ve spent the past few weeks using Apple Pay, the mobile payments app on the iPhone 6 and 6 Plus, as much as possible. I sought out every opportunity to press my thumb to the smartphone’s screen to make a payment at a store.

Apple Pay is revolutionary, but perhaps not for the reason most people think. It isn’t going to replace the credit card. The credit card has never been an annoyance, not to retailers, cardholders or the people behind them in the checkout line. (The greatest annoyance remains people fumbling with checkbooks at the last minute.) The credit card will stick around because it is integrated into Apple Pay. That tight integration is also one reason Apple Pay has a good chance of succeeding.

But the real reason it will succeed is that it will replace the wallet, the actual physical thing crammed with cards, cash, photos and receipts. The smartphone has a history of replacing other devices. It has killed or wounded, among others, point-and-shoot cameras, video cameras, tape recorders, MP3 players, GPS devices, wristwatches, daily organizers, maps, alarm clocks, calculators, flashlights and compasses.

When you are out shopping, it’s the wallet, not the credit card, that is the annoyance. It’s bulky. It can be forgotten, or lost. I’ve learned while traipsing about buying stuff with my ApplePay that I can whittle down wallet items that I need to carry to three:

■ A single credit card, for places that have not embraced, but soon will, some form of smartphone payment.

■ A driver’s license. The law says I need to carry it, but I don’t need a whole wallet for it. (To carry it, I tuck it and the single credit card into an iPhone case that has room for three cards and two tightly folded bills.) But give it time. Although no state appears to be actively considering digitizing a driver’s license, I am convinced that within five years some will. (I do, however, foresee a risk in that. You would need to hand over your phone to a police officer who is asking for identification, and then the authorities could have access to anything on that phone.)
■ About $20 in cash. This may seem like a strangely small amount. But younger people will tell you that carrying $40 sounds strange. We are starting to see the first signs of the end of cash.

Citibank did a survey recently asking what method of payment is used for smaller purchases. Nearly half of the people in their 50s said cash. (That just over half said something other than cash is in itself startling.) But among those under 30? Just 30 percent said they’d use cash
The millennials preferred to use debit cards; about 40 percent said it was the preferred option. Only a quarter of those over age 60 said they’d use a debit card.
Continue reading the main story
126

Comments

It looks as if how the young pay for things will change again soon. Analysts at Forrester Research estimate that in-person mobile payments will reach $34 billion in annual transactions before the end of the decade, from $3.7 billion this year. To put that in perspective, in-person mobile payments are a quarter of 1 percent of retail sales. But with a compound annual growth rate of 56 percent, they would be the fastest-growing segment of mobile payments. (Other kinds include those done online using the phone and directly paying others via mobile device.)

Forrester is confident of that kind of growth, even though it says only 19 percent of American adults who use the Internet say they would use a system like Apple Pay or Google Wallet. One reason is that it thinks the introduction of credit cards with computer chips on them, a security enhancement common in Europe, will cause retailers to upgrade their checkout systems. Many will buy ones that enable smartphone payments.

If I were to make a bet, I’d say that 10 years from now the most popular answer from young shoppers about how they make small payments would be: thumbprint And you’ll get a dull shrug when you ask what a wallet is.
www.nytimes.com/2014/11/29/upshot/cashless-society-its-already-coming.html?_r=0&abt=0002&abg=0
Only registered members can reply. Create an Account to join the discussion.

digital cash 09 Feb 2015 08:30 #5

  • zax
  • zax's Avatar
  • Offline
  • Gold Member
  • Posts: 5825
  • Likes received: 1560
Thise trend was seen years ago.

Next: Digital Totalitarianism - The Conspiracy to Abolish Cash
For many years figures on the political fringe, especially on the right, have claimed that the government and its corporate owners want to transform us into a cashless society. Their warnings about the conspiracy against paper money fell on deaf ears, primarily because the digitalization of financial transactions seemed more like the result of organic business trends than the manifestation of some sinister conspiracy.

Now, however, those who want to do away with liquid currency are stepping out of the shadows. They talk about increased efficiency and profit potential, but their real agenda is nothing less than enslavement of the human race.

"Physical currency is a bulky, germ-smeared, carbon-intensive, expensive medium of exchange. Let's dump it," argued David Wolman in Wired.

Citing a 2002 study for the Organization for Economic Development that states "money's destiny is to become digital, " a Defense Department-affiliated economics professor has authored an Op/Ed for The New York Times that asks: "Why not eliminate the use of physical cash worldwide?" Jonathan Lipow urges President Obama to "push for an international agreement to eliminate the largest-denomination bills" and urges the replacement of bills and coins by "smart cards with biometric security features."

Lipow's justification for calling for the most radical change to the fundamental nature of commerce since industrialization is, of all things, fighting terrorism. "In a cashless economy, insurgents' and terrorists' electronic payments would generate audit trails that could be screened by data mining software; every payment and transfer would yield a treasure trove of information about their agents, their locations and their intentions," Lipow writes. "This would pose similar challenges for criminals."

Terrorism is a mere fig leaf. According to the annual "Patterns of Global Terrorism" report compiled by the U.S. State Department, the highest total death toll attributed to terrorism in the last 20 years occurred in--surprise--2001. Including 9/11, only 3,547 people were killed in 346 acts of violence worldwide. Tragic. Obviously. But, in the overall scheme of things, terrorism is not a big deal.

Measured in terms of loss of life and economic disruption, terrorism is a trivial problem, hardly worth mentioning. According to the UN, 36 million people die annually from hunger and malnutrition. Over half a million die in car wrecks--but you don't hear people like Lipow demanding that we get rid of cars. A more legitimate concern is the "loss" of taxes upon the underground economy, estimated by the IMF at 15 percent of transactions in developed nations.

What the anti-cash movement really wants is digital totalitarianism: a dystopian nightmare in which the entire human race is enslaved by international corporations and their pet governments. An anti-establishment gadfly like WikiLeaks founder Julian Assange could be instantly deprived of money--and thus freedom of movement--with a couple of keystrokes. (We saw a preview of this when PayPal and Amazon shut down WikiLeaks donation mechanism and web server, respectively.) The high-tech hell depicted by the film "Enemy of the State" would become reality.

It is true that, in a society where every good and service has to be paid for with a debit or credit card, terrorist groups would find it much harder to operate. Don't forget, however, that today's terrorists often become tomorrow's liberators. Anti-British terrorists George Washington and Thomas Jefferson wouldn't have stood a chance if the Brits had been able to intercept wire transfers from France.

Decashification would establish digital totalitarianism, a form of corporo-government control so rigid, thorough and all-encompassing that by comparison it would make Hitler and Stalin look like easygoing surfer dudes. The abolition of unregulated financial transactions would freeze the political configuration of the world, making it impossible for opposition movements--much less revolutionary ones--to challenge the status quo.

A society without dissent has no hope. Even if we lived in a perfect world where everyone was ruled by wildly popular, benevolent, scrupulously honest regimes--ha!--eliminating the slightest possibility of opposition would lead to barbarism.

We're already more than halfway to a cashless society. In the U.S. few young adults still use checks. In many countries debit and credit card transactions now exceed those made via cash and checks combined. In 2007 the chairman of Visa Europe predicted the abolition of cash by 2012. Obviously he was wrong. But that's where we're headed. The U.K. plans to abolish checking accounts by 2018.

Even if you love your government, don't want it to change, and think political opponents belong in prison, you ought to worry. As things currently stand, we know the big banks can't be trusted. Remember when they introduced ATM cards? Banks wanted us to use them so they could lay off tellers. Then they instituted "convenience fees." Which they have raised, and raised, to the point that taking $20 out of an out-of-town ATM could cost you $5 in fees ($2 for their bank, $3 for yours).

Imagine what your life will look like under digital totalitarianism. Your pay is direct-deposited into your bank account. You'll pay for small purchases with your cellphone; if you owe a few bucks to a friend you'll be able to bump your phone against your friend's to settle up. Nowadays, some corporations allow you to control when your bills get deducted; in the future they'll demand that you authorize them to do it automatically. What if you have a disputed charge? They'll already have your dollars, or work credits, or whatever they'll call them. Good luck trying to get it back from the Indian call-center guy.

As corporate ownership becomes increasingly monopolized and intertwined, your overdue phone bill might be owned by the same outfit as your bank, which would simply take what it says you owe.

The law of unintended consequences is getting a serious workout thanks to digitalization. Motorists in New York were thrilled when the EZPass system allowed them to breeze past lines at toll bridges--at a discount, no less. Then divorce lawyers began subpoenaing EZPass records to prove that a spouse was cheating. Next police set up EZPass scanners on the bridges; if you pass two of them too fast, a speeding ticket is automatically generated. The next step is to eliminate cash lanes entirely; non-EZPass tag holders will soon have their license plates scanned and receive a bill by mail--plus a $2 to $3 "handling" fee.

Think there are too many fees now? If you think you can't trust banks now, imagine how badly they'll gouge you when they control every single commercial transaction down to the purchase of a pack of gum. Angry about taxes? When tax agencies can take the money out of your account without asking, they will. Unlike cash, that phone bump to pay your friend will be a trackable, data mineable, fully taxable commercial transaction.

As if the post-2008 economic collapse hadn't proven that no one is looking out for We the People but ourselves--and then barely so--the digivangelists tell us not to worry, that Big Brother, Inc. will smooth out the rough patches on the road to techno-fascist domination. From Wolman in Wired: "Opponents used to argue that killing cash would hurt low-income workers--for instance, by eliminating cash tips. But a modest increase in the minimum wage would offset that loss; government savings from not printing money could go toward lower taxes for employers." Sure. The same way banks passed on the savings they earned by replacing tellers with ATMs to their customers.

Americans are skipping into the digital inferno wearing a smile and relishing the smell of their own burning flesh. Countless friends and acquaintances pay all their bills online. "I'm all about using my checking account in place of cash and would love to be able to eliminate cash entirely from my life," gushed PCWorld's Tony Bradley recently.

"Give me convenience or give me death" was the title of an album by the punk band Dead Kennedys.

We'll get both.
www.smirkingchimp.com/thread/ted-rall/33387/next-digital-totalitarianism-the-conspiracy-to-abolish-cash
Only registered members can reply. Create an Account to join the discussion.
User(s) who Liked this post: I_AM_BACK

digital cash 17 Feb 2015 07:47 #6

  • zax
  • zax's Avatar
  • Offline
  • Gold Member
  • Posts: 5825
  • Likes received: 1560
Digital Cash Will Starve the Homeless
My neighborhood is a focal point for homeless-services organizations, which means that on any fine day, there will be homeless people sitting on the grassy areas. None of them are panhandlers. But yesterday, as I passed a group of homeless people, I realized that I wouldn’t be able to give them money even if they asked for it, because I didn’t have any cash. I almost never have any cash anymore. It used to be necessary for food trucks and taxis and so forth, but now they all take credit cards. Now we mostly just need cash to tip the occasional delivery person, and I leave that cash at home, in my husband’s wallet.


Which makes me wonder what Square Inc., and the rise of similar digital-payment systems, means for panhandling and busking. In some ways, digital payments have made it easier to help people in need -- my Facebook feed is filled with appeals to bring meals to new mothers and people with illness in the family, donate to people who have fallen on financial difficulties, and fund various sorts of projects, and often I do help. But panhandlers rely on casual charity. Sure, there are people who organize what they give: McDonald's gift certificates, or a certain amount to each person. There are also those who don’t give anything, instead donating to groups such as So Others Might Eat.

But most of us, whether we give to homeless-oriented charities or not, are not so organized. We sometimes give whatever small bills or change we happen to have in our pockets; if we don’t have money, we don’t give.

More and more people are like me, however: They don’t have it in their pockets in the first place. In theory, they might transfer the money they aren’t giving out to a charity instead, but I doubt it. Most people probably have the money they give to panhandlers in a completely different mental basket from their tax-deductible charitable donations; they won’t amp up the one just because they’ve stopped the other entirely.

I won’t go into the arguments about whether you should give to panhandlers or not; having worked for a homeless-advocacy group long ago, I’m familiar with all of the arguments, but I’m not sure they actually matter much in practice. Most people are not so constituted as to either always give or never give. But whether you think giving to panhandlers is good or bad -- whether you think it results in immiseration of marginal people or encourages them to get help -- one thing is certain: A cashless society will cause a marked change in the streetscape of cities. Panhandling has been around as long as we’ve had cities, and neither law nor custom has ever been able to fully eradicate it. But technology just might.
www.bloombergview.com/articles/2014-04-07/digital-cash-will-starve-the-homeless
Only registered members can reply. Create an Account to join the discussion.
User(s) who Liked this post: Cinta

digital cash 02 Mar 2015 04:54 #7

  • zax
  • zax's Avatar
  • Offline
  • Gold Member
  • Posts: 5825
  • Likes received: 1560
Cash is king in Pakistan. But digital alternatives are finally emerging
But 2015 might be the year all that changes.

At the start of the year, a collaboration between Habib Bank and Monet resulted in the launch of the first mobile point-of-sale (mPOS) system in the country. It allows retailers of all sizes to take payments using a mobile phone and can run on a slow GPRS connections. While it doesn’t sound ground-breaking – and it’s something commonplace in other countries, using gizmos made by companies like Square – it’s a breakthrough moment for Pakistan. Simply, it’s a card-swiping gadget that plugs into smartphones
www.techinasia.com/pakistan-mpos-systems-replace-cash/
Only registered members can reply. Create an Account to join the discussion.

digital cash 09 Mar 2015 08:55 #8

  • zax
  • zax's Avatar
  • Offline
  • Gold Member
  • Posts: 5825
  • Likes received: 1560
Where the Digital Economy Is Moving the Fastest

hbr.org/2015/02/where-the-digital-economy-is-moving-the-fastest
Only registered members can reply. Create an Account to join the discussion.

digital cash 22 Mar 2015 07:54 #9

  • zax
  • zax's Avatar
  • Offline
  • Gold Member
  • Posts: 5825
  • Likes received: 1560
Only registered members can reply. Create an Account to join the discussion.

digital cash 24 Mar 2015 05:44 #10

  • zax
  • zax's Avatar
  • Offline
  • Gold Member
  • Posts: 5825
  • Likes received: 1560
Only registered members can reply. Create an Account to join the discussion.

digital cash 19 Apr 2015 11:07 #11

  • zax
  • zax's Avatar
  • Offline
  • Gold Member
  • Posts: 5825
  • Likes received: 1560
Budget pledges funds for digital cash research

www.bbc.com/news/technology-31944054
Only registered members can reply. Create an Account to join the discussion.

digital cash 19 Apr 2015 12:32 #12

  • zax
  • zax's Avatar
  • Offline
  • Gold Member
  • Posts: 5825
  • Likes received: 1560
Governments also are warming up to the digital economy, with rumors of “Fedcoin” in the United States and some kind of “Eurocoin” in Europe, especially in financially troubled economies such as Greece’s. In a recent research paper titled “One Bank Research Agenda,” the Bank of England said that Bitcoin could reshape the financial industry and called for further research to devise a system that could use distributed ledger technology without compromising a central bank’s ability to control its currency.

If IBM becomes the preferred partner of governments for next-generation fintech based on blockchain technology, the payoff might be huge. It’s worth noting again that this is not an official announcement, but an unconfirmed rumor.

bitcoinmagazine.com/19586/ibm-building-digital-cash-national-currencies/
Only registered members can reply. Create an Account to join the discussion.

Related topics

Topic subjectRelevanceDate of latest post
Digital Artists6.85Wednesday, 20 June 2018
Digital Camera Help6.85Monday, 21 March 2016
Our "Digital World"...Where are we headed?6.78Monday, 08 September 2014
DIGITAL NEW WORLD ORDER6.78Friday, 29 June 2018
Digital video recorder software6.7Saturday, 14 December 2013
digital video recorder software6.7Friday, 22 July 2016
MSM - from where does their cash now come?6.13Sunday, 19 October 2014
seized cash6.06Sunday, 19 April 2015
Cash is King6.06Monday, 09 June 2014
NASA : A Cosmic Cash Cow5.99Thursday, 20 December 2018
Moderators: novum, rodin, Flare
Powered by Kunena Forum

Annual Server Target

Whether its 50 cents or five dollars, your donations are appreciated and help keep this community site running so we can all continue to enjoy using it. Secure transactions via paypal.
This target is to meet our server cost for one year, June 2019 - May 2020, in USD.
$ 340 - Target
( £ 263 GBP )
donation thermometer
donation thermometer
$ 239 - Raised
( £ 185 GBP )
donation thermometer
70%
Updated
27th February 2020

No one is obliged to donate, please only donate what you can afford. Even the smallest amount helps. Being an active member is a positive contribution. Thank You.