Quote Originally Posted by JamesWales View Post
Agree.

Aside from anything else it would be a huge transfer of power from the people to institutions, in this case banks, governments, and facilitators such as VISA and Mastercard.

In a two-way transaction, why would you want to introduce a third party to take a cut? One that would likely only grow were that the only option.
You would leave yourself wide open to financial insitutions knowing every penny of expenditure before they loaned money or sold you a product.
We would become entirely reliant on wifi infrastructure to conduct any business. There are numerous examples of this failing. A country really would be putting themselves at financial risk if their entire system was cashless.
The big issue for me as well is that people need and deserve a degree of anonymity. Society isn't better with every conversation recorded and it wouldnt be better with every transaction recorded. A big issue for me is vulnerable people in particular in this case.


I can genuinely think of nothing that would so unnecessarily transfer power from the population to those at the top than a cashless society.

Everyone really should consider resisting it to varying degrees in my opinion, even if it's just spending £20 a month on cash, it all helps keep that system alive.
Actually plans are afoot to move to a CBDC which would bypass the banks and your expenditure would be directly controlled by the government, and the programmable element of CBDC's could be used to control what you buy.