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Millions will suffer with out cash
#1
From the BBC
https://www.bbc.co.uk/news/business-46596154


The UK risks "sleepwalking" into becoming a cashless society with millions of people disadvantaged as a result, a study has concluded.
Banknotes and coins are a necessity for eight million people, according to the Access to Cash study.
The report, authored by ex-financial ombudsman Natalie Ceeney, said a cash-free society would create problems for those in debt or living in rural areas.
Last year, debit cards overtook cash as the UK's most popular payment method.

Cash use has halved in the past 10 years, with notes and coins now handed over in three in every 10 transactions. Cash use is forecast to halve again in the next decade.

More generally, there are various risks highlighted in the report from a cashless society. They include:
  • Struggles in rural communities where alternative ways of paying would be affected by poor broadband or mobile connectivity

  • Difficulties for some people with physical or mental health problems who find it hard to use digital services

  • Rising debt levels, owing to budgeting being easier with cash

  • Lost independence for those who use cash as a lifeline when in difficult or abusive relationships

  • Higher prices for those who are unable to benefit from online services or direct debits
I had not really considered this aspect of the crypto world - that there are some people for whom crypto may be a bad thing (other than bankers).
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#2
Even the street dealers in China laugh of people who want to use cash. Mobile pay systems have spread like wild fire in China in the recent years. Same in Denmark. I almost never use cash anymore. Last time was as tip at the hotel in Lanzarote...

People have to adapt to this new reality.
Cardano is the most promising 3 gen. crypto right now.


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#3
(2018-12-19, 06:26 PM)Carsten Wrote: Even the street dealers in China laugh of people who want to use cash. Mobile pay systems have spread like wild fire in China in the recent years. Same in Denmark. I almost never use cash anymore. Last time was as tip at the hotel in Lanzarote...

People have to adapt to this new reality.

It is very rare I have cash with me. I do all my payments with card.
I hope payment systems will improve in the near future.
Yes in China mobile payment is a hype.
What is this thing that builds our dreams, yet slips away from us?

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#4
I think cash will be gone in Denmark within the next 5-10 years. One reason is control of money flow so it will be harder to have work done without paying tax for the job (the one who does the job).
Cardano is the most promising 3 gen. crypto right now.


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#5
My last trip to Finland involved no cash - from the taxi to the hotel to restaurants to the pub - all was by card.
But if you have no access to card then life would be a lot tougher.
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#6
(2018-12-20, 05:41 PM)BobBobert Wrote: My last trip to Finland involved no cash - from the taxi to the hotel to restaurants to the pub - all was by card.  
But if you have no access to card then life would be a lot tougher.

Correct. people with no bank account will never have a card.
Therefor we need blockchain based decentralised payment sytems for the few billions of unbanked.
What is this thing that builds our dreams, yet slips away from us?

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#7
I have only used cash few times in past year..mainly tips for guides when I go on a photo trip to foreign country.

I use cards exclusively to build up frequent flyer miles and hotel points to feed my travel lust.
I took daughter business class to Hong Kong 2 years ago (free) and had free hotel for week.
I went China free first class in March and going again in March next year (2019) also 1st class free.

Next year I have already booked 10 days at luxury hotels in Maldives in May, Bali in August, and Dubai and Santorini in October (all free) at 5 star hotels!

So I try and pay everything on cards to earn miles
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#8
Regarding cards. There are options for cards that does not require a bank account. https://www.mycard2go.com/

CTA you are a lucky man!
Cardano is the most promising 3 gen. crypto right now.


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#9
Great list of freebies! I have not been out of Scotland other than a road trip for a weekend to England this year Sad

So how do we get crypto into the hands of those without computers or with no bank accounts?
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#10
A smartphone is minimum requirement Bob.
Cardano is the most promising 3 gen. crypto right now.


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