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12 May 2017 10:55:26
I'm not by any means an expert or enthusiast on this subject, but I would say in terms of finance/ banking it is completely likely that physical cash will cease to exist in the relatively near future. As things push forward and populations grow exponentially it will be of absolute priority that people are able to be monitored and controlled as closely as possible and a large part of that will involve our expenditure and general cash flow.
You can monitor and build a focused picture on anyone by seeing how they utilise their funds. Its probably one of, if not the prime tool used to build a compelling profile of someone. It tells a vast story.
The reason the government opposition to cryptocurrencies like bitcoin etc. Is so immense is because it showcases the future of money laundering. A virtually untraceable (well, extremely difficult to trace) way of moving cash around and they hate that to the core. It's why major retail outlets have initially accepted it as payment and then soon after declined. Clearly pressed to disassociate with the idea by the powers that be.
I think ed033 is right. Its not something that can be rolled out immediately but it will be pushed, no doubt, as a security measure and we will be told that it will benefit us to no end. People think it's a mammoth task but less than 10% of the world's cash flow is printed in physical form so in terms of rollout it's fairly straightforward. The 10% unfortunately relates to us measly peasants that have bugger all in the main.
Fun times ahead!
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