Electronic Currency

Senna

What opinions have people on ditching traditional notes & coins and introducing a completely electronic currency. Would it have a big effect on crime and drugs. Would it make it easier for the CAB etc

TheZohanS

Senna wrote: »

What opinions have people on ditching traditional notes & coins and introducing a completely electronic currency. Would it have a big effect on crime and drugs. Would it make it easier for the CAB etc

Probably not, at least with notes and coins you know if you have enough to pay for one after a night out.

effort. not bein able ta lend someone a fiver. or ever sell anything second hand?

Thomas_S_Hunterson

Would raise serious concerns about privacy.

delllat

would work in addition to cash
not instead of cash

conf101

TheZohan wrote: »

Probably not, at least with notes and coins you know if you have enough to pay for one after a night out.

BOOM BOOM!!!

xOxSinéadxOx

delllat wrote: »

would work in addition to cash
not instead of cash

are you joking or not? I can't tell

delllat

xOxSinéadxOx wrote: »

are you joking or not? I can't tell

xOxSinéadxOx

xOxSinéadxOx wrote: »

are you joking or not? I can't tell

lol i was gonna defend him till it clicked :pac:

delllat

xOxSinéadxOx wrote: »

are you joking or not? I can't tell

well,this is ah!

delllat

seriously though it would be an interesting concept

the likes of street prostitutes would suffer though so its not viable

xOxSinéadxOx

I suppose you couldn't really evade tax either

it's not an interesting concept.. unless we can exchange money person to person with the electronic system without trace, it wont happen and no one would want it to happen.

delllat

it would still be cool to be able to forget about cash

tiny micro chip implanted under the skin that would have a unique digital signal

you could just take your groceries at scan your hand under the machine at tescos

pure convenience!

Senna

If it were ever to be introduced, you would have to be able to transfer money to another person, without going to a bank etc. Probably using your mobile phone or a computer. Privacy would be a problem, but don't the banks flag any payments into you account over 5k (maybe more, cannot remember) anyway. So i assume the bank could flag irregular payments, possibly crime related.

I dont see why it couldn't work, i would be fairly sure it will happen at some stage, maybe long after our lifetime, but it will happen.
The benefits it would bring would far out weight the negatives.

Run_to_da_hills

Senna wrote: »

What opinions have people on ditching traditional notes & coins and introducing a completely electronic currency. Would it have a big effect on crime and drugs. Would it make it easier for the CAB etc

All ready discussed at length in the conspiracy forum and is on the way to a phone shop near you..

RFID compatible NFC cellular phones should be on the market by the end of the year. All personal transactions can be conducted as well as POS at supermarket checkouts and transit smart card usage.

Used in conjunction with UPC bar codes / RFID tagging it can itemize every purchase you make and will pinpoint your location on planet earth. This will be one of the tools of the "New Global Order" to help fight "terrorism" and "crime".

http://www.youtube.com/watch?v=BwfYVd3ObPA&feature=related

dotsman

Senna wrote: »

If it were ever to be introduced, you would have to be able to transfer money to another person, without going to a bank etc. Probably using your mobile phone or a computer.

Yes we will have to wait until the invent internet/phone banking.

Actually, that sounds way too far fetched to me.

Capt'n Midnight

well they are talking about putting RFID chips into €100 notes too

we are getting closer all the time to emoney but for some things like the black economy you can't beat cash

Eoin

I'd love to have something like a laser card that didn't take so long to process. The problem is that would mean the balance would probably have to be stored on the card rather than being processed each time, and no doubt you'd have scammers making dodgy cards in no time.

delllat wrote: »

the likes of street prostitutes would suffer though so its not viable

Depends where you swipe the card I suppose.

galwayrush

Cash is King.;)

Run_to_da_hills

Capt'n Midnight wrote: »

well they are talking about putting RFID chips into €100 notes too

we are getting closer all the time to money but for some things like the black economy you can't beat cash

If countries go bankrupt in the current economic climate the creditors (World bank) will force governments into eliminating cash thus weeding out the black economy. Electronic transactions will eliminate dole fraud along with any sort of crime and money laundering all at the expense of civil liberties.

Bluetonic

Privacy isn't an issue, there are plenty of ways to make transaction anonymous with simple algorithms and blind signatures.

galwayrush

We'll end up using a bartering system for many things.;)

Biggins

galwayrush wrote: »

Cash is King.;)

...unless we declare a republic.
O' wait...! :eek:

K-9

Read first page and was wondering were RTDH was..................

Run_to_da_hills

Bluetonic wrote: »

Privacy isn't an issue, there are plenty of ways to make transaction anonymous with simple algorithms and blind signatures.

The EFT is cat and mouse, the more it gets cracked the more sophisticated it gets. It started off with just signatures on our credit card transactions, then chip & pin, soon all this will be replaced with biometric thumb print / retina scanners. Dual purpose USB biometric and smart card readers are already on the market.

The only real way around the system would be back to barter, Cash will effectivly become worthless.

120_Minutes

this country cant even manage real money.

Run_to_da_hills

120_Minutes wrote: »

this country cant even manage real money.

It may not be our country that will be managing the next stage of money.