Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillanceThe health food chain Tossed has just opened the UK’s first cashless cafe. It’s another step towards the death of cash.
This is nothing original. Money is tech. The casting of coins made shells,whales’ teeth and other such primitive forms of money redundant. The printing press did the same for precious metals: we started using paper notes instead. Electronic banking effect paid to the cheque. Contactless payment is now doing the same to cash, which is fitting less and less convenient. In the marketplace convenience usually wins.
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Source: theguardian.com