0 sats \ 0 replies \ @Krv 4 Feb \ on: Physical cash is dying and you need to worry about the consequences econ
AI Summary: "The article discusses the decline of physical cash and the rise of cashless transactions, exploring the potential consequences and concerns associated with this shift. The author recounts an incident involving Piers Corbyn, a controversial figure, who protested against a cashless supermarket policy. The decline of physical cash is attributed to the convenience of digital payments, accelerated by the COVID-19 pandemic. Despite efforts to safeguard the supply of cash, its usage continues to decrease. The article delves into the implications of a cashless society, including privacy concerns, potential exploitation of biometric data, and the emergence of alternative forms of digital tokens. The author explores examples such as the Worldcoin project in Kenya and the use of tokens in various contexts, expressing concerns about the potential loss of anonymity and individual freedom. The article also discusses the role of digital platforms as the new banks and the challenges associated with this transition, including issues of control over personal data and potential manipulation of values. The author concludes by acknowledging the potential for subversion and resistance in the evolving landscape of digital currencies, suggesting that the future of money may not be entirely dystopian."