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RE: No Cash, No Pain: What if You Woke Up to No Paper Money?
It happened in India. People’s cash savings became useless and they couldn’t afford to eat.
A cashless society means never being able to buy your friend a coffee without the government and the banksters knowing about it. A cashless society means that if you every step out of line your abilities to use your digital currency can be taken away at any time. A cashless society means being more vulnerable to being hacked. A cashless society means a total lack of control over your money.
To be honest most of what you wrote about a cashless society is a rich vision. Its been in the works for a long time by the powers that shouldn’t be. Are you familiar with the 1988 cover of the economist?
Hi @venomnymous, I think what you are talking about happened quite some years ago? Here are some points which you might consider or read through to help clarify your doubts:
Based on the Bitcoin technology, blockchain payments are decentralised and not controlled by the government. Hence it it not the same as a cashless world currency reported back 30 years ago on the cover of Economist as you have mentioned.
Bitcoin's lightning technology opens nodes, where small transactions are transmitted through peers. They are hence not part of the blockchain but an additional layer of data. Will can still treat your friend coffee as long as you have a workable cryptocurrency wallet connected to the lightning system. "Government and banksters" won't know about it.
Having cashless options is already happening in our society, e-payments, using payment through apps. I am sorry that you might be still living in a part of the world that is inaccessible to the new technologies.
Blockchain and security are tied together. You cannot talk about one without the other.
There will be better control knowing that government-issued fiat currencies are linked to inflation rates that could not be controlled by the people. Bitcoin's rarity and deflation is the best example of how the people can gain better control of long-term wealth.
Thank you for paying attention to this article, a press release from Blockshow Asia 2018 which I am honored to present. Stay tuned on my Steemit page to gain more insights of the future of blockchain and I will bring back reports from the conference next week.
-tysler