The central banks want cash dead. Now the industry giants are getting on board. Soon cash will be gone and the last vestige of any economic privacy will go with it. From birth to death each purchase or investment you make will be “on the record.”
Turn in your Federal Reserve notes folks, because even paper is too tangible for the big shots now. The shamans want a wash of digits, which can be tracked, and cut off if need be. In a blink.
(From The Telegraph)
Tim Cook, the chief executive of technology giant, forecast the death of cash by the time current university students have a family.
Cash is still used for more than half of payments by consumers, according to Payments UK, the industry body, but its popularity is falling as people switch to cards and smartphone apps such as Apple Pay and Google Wallet.