Is a cashless society on the cards? 2012 - 2015

[donnay]

I came across this article that was written early 2011.  It seems to be the big push in the UK to have a cashless society saying cash is too expensive to carry!  

Is a cashless society on the cards?
Steve Perry, executive vice president of Visa Europe, says cash is expensive - a cost on society - and should be replaced by a cashless society.

Steve Perry, executive vice president of Visa Europe, has a different take on the folding stuff packed in our wallets that most of us take for granted. "Cash is expensive," he says. "We need to be using it less."

Expensive? Vintage wines, maybe. Designer clothes, yes. Modern art, almost certainly. But cash?

"Why do you think supermarkets introduced cashback?" Perry asks rhetorically.

He has me stumped there. I tell him I always thought of it as a service for overdrawn students to drive a few more sales through the tills.

"No," he responds politely. "It's because they want cash out of the system so there is less to manage. Processing a transaction on a card can be cheaper than handling cash."

Perry is a leading cheerleader for the cashless society. It's hardly a surprising role, but its an argument he is finding increasingly easy to make. Last month, for example, the Payments Council announced to anguished outrage that in 2018 the cheque would be dead.

"There are many more efficient ways of making payments than by paper in the 21st century, and the time is ripe for the economy as a whole to reap the benefits of its replacement," Paul Smee, chief executive of the Payments Council, said.

Perry extends the same argument to cash. Notes and coins are never going to be fully replaced, he accepts. Currency has, after all, been around in some form or another since 3,000BC. But now that we're in the electronic age, payments could do with a little catching up, he reckons.

Visa has recently published an extensive report on the cost of cash to society. Citing numerous independent papers by consultants and national governments, the payments company constructs a compelling case.

"The European Commission has calculated that the total cost to society of all payment methods including cash, cheques and payment cards equates to 2pc-3pc of GDP," the report states. "To put this figure into context, it should be remembered that the entire EU agricultural sector equates to 2.1pc of GDP, which means we spend more on payment than we produce on food."

The EC estimates that cash accounts for more than two-thirds of the total cost. McKinsey, the consultants, have estimated that "society spends about €200 (£180) a year per person to cover the cost of cash" and the "real" cost of cash to a retailer is 1.3pc of the purchase price – no less than the transaction fee on a card. The Dutch central bank has published a similar study, estimating the annual cost of cash at €300 per family.

Because cards are less risky (the associated cost is estimated at 0.02pc-0.1pc per transaction on cards compared with 0.1pc-0.2pc with cash) and encourage spending, they are more efficient and better value, Visa argues. Furthermore, card transaction fees are expected to fall, with some countries in Europe such as Denmark already offering free debit card services to retailers.

In the UK, Perry estimates, £1 in every £2.50 is spent on cards. He hopes to see the ratio reversed, with £2 in every £3 on cards by 2015. Of course, that would mean more business for Visa but, he claims, it would also mean less waste through cash security and cash handling costs.

A few years ago, changing consumer behaviour to such a degree would have been unthinkable. Perry says the internet and "chip and pin" have changed all that. Online retailers have helped the public grow familiar with card purchases, while chip and pin has reduced the incidence of fraud from 0.07pc to 0.05pc.

In the EU, according to the European Central Bank, €1.68 trillion was spent on cards in 2008 and use has been growing at 12pc a year for the past five years. Debit card spending this year in the UK is expected to overtake cash spending by value for the first time.

Continued...

[Dok]

Is a cashless society on the cards? hand?

yep, its coming

[IridiumKEPfactor]

Yeah. This is coming.

And if the bank or TPTB don't like you, they'll order an employee at the bank to take your money and claim a hacker did it and tell you you should have secured your computer.

[All4truth]

Yeah. This is coming.

And if the bank or TPTB don't like you, they'll order an employee at the bank to take your money and claim a hacker did it and tell you you should have secured your computer.

No you'll be implanted with a little chip and it will be linked to your bank account.  If TPTB want to stop you from buying all they have to do is put a block on your chip number.  There it's done, you can't buy or sell anything without it. :\

[decemberfellow]

 

No you'll be implanted with a little chip and it will be linked to your bank account.  If TPTB want to stop you from buying all they have to do is put a block on your chip number.  There it's done, you can't buy or sell anything without it. :\

It like everything else is all about CONTROL.  I am the only employee where I work that stills gets a check.  I intend to keep it that way, knowing sooner or later I will not have that choice, then will I decide my next step.

[TahoeBlue]

This has been the push for visa since 1995 when it started the VisaNet 2 project
Went operational 2004-5 with the new system in Denver Co.
In tandem Visa dumped over ~1500 "old" workers from San Mateo and went public in 2008

http://www.independent.co.uk/news/business/news/cashless-society-by-2012-says-visa-chief-439676.html
Cashless society by 2012, says Visa chief By Tim Webb
Sunday, 11 March 2007
Paying for goods with notes and coins could be consigned to history within five years, according to the chief executive of Visa Europe.

Peter Ayliffe said that, by 2012, using credit and debit cards should be cheaper and more convenient than cash.
...

Some retailers could soon start surcharging customers if they choose to buy products with cash, because of the greater cost of processing these payments, he warned.

Visa Europe briefed the British Retail Consortium last month on new "contactless" cards that can be waved in front of a scanner to make small payments.

http://money.cnn.com/2008/03/18/news/companies/visa_ipo.fortune/

March 19, 2008: 7:50 AM EDTEmail | Print    Type Size    
Visa IPO prices at record $17.9B
Credit card company's initial public offering surpasses estimates at $44 a share [ visa current share price ~$85 ]


http://en.wikipedia.org/wiki/Visa_Inc.
...

Corporate structure
Prior to October 3, 2007, Visa comprised four non-stock, separately incorporated companies that employed 6000 people worldwide: Visa International Service Association (Visa), the worldwide parent entity, Visa U.S.A. Inc., Visa Canada Association, and Visa Europe Ltd. The latter three separately incorporated regions had the status of group members of Visa International Service Association. The unincorporated regions (Visa Latin America [LAC], Visa Asia Pacific and Visa Central and Eastern Europe, Middle East and Africa [CEMEA]) were divisions within Visa.

[edit] IPO and restructuring
On October 11, 2006, Visa announced that some of its businesses would be merged and become a publicly traded company, Visa Inc

Under the IPO restructuring, Visa Canada, Visa International, and Visa U.S.A. were merged into the new public company. Visa's Western Europe operation became a separate company, owned by its member banks who will also have a minority stake in Visa Inc
...
Visa's headquarters are located on the top three floors of the 595 Market Street building in San Francisco.[37] As of 2009, 125 people work at the Visa headquarters. The company's center of employment is its campus in Foster City, California, which as of 2009, houses 2,400 employees.[38]

Visa had been headquartered in San Francisco until 1985, when it moved to San Mateo
...
Currency of Progress
In October 2009, Visa launched "Currency of Progress," an effort to better educate the world about how digital currency advances economic empowerment and business efficiency worldwide. Through real-life testimonials, Currency of Progress illustrates how the migration from cash and checks to electronic payments helps individuals access their money more securely and conveniently; builds stronger, more efficient businesses; and enables governments to be more cost-effective and responsive to their citizens. The website contains the campaign’s video testimonials, fact sheets on key areas such as security, government efficiency, financial literacy, innovation, and merchant benefits, along with real-world case stud


http://www.justice.gov/atr/cases/visa/d-0119.pdf
Board of Directors meeting 1999

Benefits of the VisaNet 2 program ....

[chris jones]

           A cashless society, dependent on what, the whims of the controllers, in total.

[TahoeBlue]

http://www.washingtonpost.com/world/europe/high-tech-sweden-edges-closer-to-becoming-cashless-society/2012/03/17/gIQANtd2HS_story.html
High-tech Sweden edges closer to becoming cashless society
By Associated Press, Published: March 17

 STOCKHOLM — Sweden was the first European country to introduce bank notes in 1661. Now it’s come farther than most on the path toward getting rid of them.

 “I can’t see why we should be printing bank notes at all anymore,” says Bjoern Ulvaeus, former member of 1970’s pop group ABBA, and a vocal proponent for a world without cash.
...
In most Swedish cities, public buses don’t accept cash; tickets are prepaid or purchased with a cell phone text message. A small but growing number of businesses only take cards, and some bank offices — which make money on electronic transactions — have stopped handling cash altogether.

 “There are towns where it isn’t at all possible anymore to enter a bank and use cash,” complains Curt Persson, chairman of Sweden’s National Pensioners’ Organization.

He says that’s a problem for elderly people in rural areas who don’t have credit cards or don’t know how to use them to withdraw cash.

The decline of cash is noticeable even in houses of worship, like the Carl Gustaf Church in Karlshamn, southern Sweden, where Vicar Johan Tyrberg recently installed a card reader to make it easier for worshippers to make offerings.
...

[kidA]

Walked into Pinkberry today and was surprised by a bunch of Google employees. They were advertising their new product/app called GoogleWallet.  You enter your card information on your phone and wave the phone on wireless pad. Google paid for my free pinkberry.

I'm pretty sure Japan uses this technology for taxis, subways, famimarts, etc.

[decemberfellow]

Rev:13: 16And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:

 17And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.


God is good.  Jesus words no one can say they weren't warned.

[chris jones]

 Its the elites dream come true. Face it, they have you ID's, every one on file, your job locations, your taxes, your home and mortage, service records, family members, neighbors, afilliations, your purchases, affiliations, blood types, medical and detal records, facial data, fingerprints, sexual preferences, hangouts, friends and associates, drivers license, any gun permits and weapons, computer usage of your cell Phone and land line usage, we are profiled, that is.
 Next step, absolute controll of your hard earned pay, the means to support your family. Imagine you get a red tag-colr coded, with one push a button your ups the perverbial shiiitescreek.
  COnTROLL in the absolute.. The younger generation will be given the speel this is for the  good of the nation and people. Guys they have been doing this for decades, it didn't begin this past decade.
  Think DARPA, DHS, FBI, Locals PD high levels, NSA, etc, etc, etc,.. While the people have been struggling to survie, they have been advancing their system of domestic statistics and profiles of the citizenry in every area.
  Got patience, I',m ranting, think diamonds, if they were all released at the actual price we could all afford them, now think GOLD can we all afford it NOPE,, who has the major portion dictates the price, Diamnonds is a clever example of controll as well as precious metal, the old time tru values are being replaced with a controlled plastic card or perhaps even a chip. NUMBERS they controll and manipulte at will .
 Seems like they have us profiled, the last step is total controll of our finances. This is but one, how about popuilation and mass migration, the literal takeove of Lousiana, and the gulf in general.
  Buckle up- up, protect your familys, and educate the young.

[America2]

Rev:13: 16And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:

 17And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.


God is good.  Jesus words no one can say they weren't warned.

Yep, another reason to stray away from these "church buildings"(today's modern-day Churchianity, that is) now - the pastors on these Churchianity pulpits are more concerned with the offering plates(which is where their salaries and benefits are coming from), that they're afraid to tell the pews THE TRUTH. Either way, they are LIARS, and they are going to suffer the consequences.

I don't know if there's going to be a rapture before the 7 year tribulation(something I'd don't want to discuss now), but either way...assuming we are all here when the tribulation hits, yes, Jesus warned about this 2000 years ago, so there are NO excuses, NONE. And we are starting to see the seeds planted for the mark of the beast right now!

[chris jones]

Yep, another reason to stray away from these "church buildings"(today's modern-day Churchianity, that is) now - the pastors on these Churchianity pulpits are more concerned with the offering plates(which is where their salaries and benefits are coming from), that they're afraid to tell the pews THE TRUTH. Either way, they are LIARS, and they are going to suffer the consequences.

I don't know if there's going to be a rapture before the 7 year tribulation(something I'd don't want to discuss now), but either way...assuming we are all here when the tribulation hits, yes, Jesus warned about this 2000 years ago, so there are NO excuses, NONE. And we are starting to see the seeds planted for the mark of the beast right now!

[chris jones]

 I am sorry that I will not enter into scripture at this point. But i will make a remark as to our founding fathers, they beleive freedom, equalitys, the rights of our citizens were a priotiry.
  Many men and woman gave fought for and gave their lives for this privledge, were they Christians following scripture or human beings who had first hand knowledge ofwhat being dominated, and enslaved truly is.
What value is freedom of religion, Christ mesaage, are we  to allow the pople of this nation to be controlled.
   Please inform me as to The Christs message and our currrent nation. Please no scripture, only your true inner thoughts, not those of the piupit bangers, they have their line of scriptures imprinted on their podiums, and their message to their folks scripted by the elites. Not all, but lets be realistic, a good majority.

[DireWolf]

Even if the Bible did not predict a cashless society it would have eventually come to pass for control of mankind is their goal.

 There will always be a "black market" of sorts where barter is king allowing one some anonymity.

[Dok]

Even if the Bible did not predict a cashless society it would have eventually come to pass for control of mankind is their goal.

 There will always be a "black market" of sorts where barter is king allowing one some anonymity.

The cashless society also deals with worshipping the devil and his minnions instead of the true God Jesus, so there will be no "black market" what so ever because those with out the MARK will be killed. enjoy. 

[eddy64]

the scum bags will be milking us dry with transaction fees once we have a cashless society, i.e friend sends some cash to you - that will be 3% from both of you.  can see the bankers laughing thier asses off.

[2Revolutions]

the scum bags will be milking us dry with transaction fees once we have a cashless society, i.e friend sends some cash to you - that will be 3% from both of you.  can see the bankers laughing thier asses off.

Notice this with gas prices.  The price for paying with debit or credit card is usually 6 cents more than paying with cash.

[TahoeBlue]

visa share price is now: 117.28 +0.53‎ (0.45%‎) Market Cap: 95.38B  - Visa IPO price  $17.9B

http://blogs.laweekly.com/informer/2011/11/congress_insider_trading_los_angeles.php
...
As we learned on "60 Minutes" last night, many of the politicians we've elected to U.S. Congress have clearly been using their backdoor V.I.P. passes to gather exclusive intel on when to buy and sell stocks, bonds and commodities.


http://blog.sfgate.com/nov05election/2012/03/22/insider-trading-ban-passes-senate/
3/22/12
The so-called STOCK Act to ban insider trading by members of Congress, their staff and some administration officials, and speed up reporting of stock trades, passed the Senate 96-3 today and is on its way to President Obama’s signature.
 
The legislation was triggered by a 60-Minutes television report that focused on stock trades in VISA by House minority leader Nancy Pelosi’s husband Paul. Pelosi vigorously and credibly denied that she used her position to influence the trades.

Showing that she can be a master of spin, Pelosi managed to transform herself from the subject of an unflattering hit piece to champion of Congressional reform, first by confronting the 60-Minutes report and then by embracing the reform legislation, and blaming Republicans for trying to water it down.
 
The other irony is of course that Congress was never exempt from insider trading rules to begin with. Securities and Exchange Commission officials successfully persuaded Congress not to create a separate law for Congress, but to clarify the existing ban and speed up disclosures of stock trades. Currently members have to report annually, which makes insider-trading cases impossible to prove or even detect; the new legislation requires 30-day disclosure on a public and searchable web database. SEC officials said instant disclosure would be far preferable, but members objected to the paperwork burden.


(Pelosi-Greer 2009)
China to expand use of lethal injections for death sentences - 2008

NorCal's Nancy Pelosi finds nothing shady about her convenient investment in Visa.

Former House Speaker Nancy Pelosi and her husband have participated in at least eight [Initial Public Offerings]. One of those came in 2008, from Visa, just as a troublesome piece of legislation that would have hurt credit card companies, began making its way through the House. Undisturbed by a potential conflict of interest the Pelosis purchased 5,000 shares of Visa at the initial price of $44 dollars. Two days later it was trading at $64.

The credit card legislation never made it to the floor of the House.

Her $220,000 "investment" is now worth $585000...

[TahoeBlue]

Again 2015 now seems to be the magic year....
see: 1/3 Unmanned Robots by 2015

http://www.directtrafficmedia.co.uk/blog/paypal-predicts-cashless-society-by-2015

PayPal, the online payments giant, has notched up 100 million active users, and is predicting that digital currency will be accepted everywhere in the US by 2015.
 
The company’s president, Scott Thompson, made the bold prediction on the company’s blog on June 29: “We believe that by 2015 digital currency will be accepted everywhere in the U.S. - from your local corner store to Walmart. We will no longer need to carry a wallet.”

“Consumers are increasingly giving up traditional payment methods such as cash and checks and turning to a more modern - and anytime, anywhere - form of payment,” added Mr Thompson. PayPal is so confident in its claims that it is setting up a viral contest between five of its employees in San Francisco, challenging them to solely use digital currency to make all their purchases. The stunt will be announced by the company on July 11.
 
A recent study commissioned by PayPal and conducted by Leger Marketing found that the majority of Canadians are happy with the prospect of a cashless, digital-dollar society. 56 per cent of respondents said they would be happy to see the back of cash payments, and 31 per cent said they would prefer paying using their mobile phone than using cash.
 
Both Google and Visa have both recently announced their plans to step into the ‘digital wallet’ marketplace. Speaking at the GSMA  Mobile Money Summit recently, Visa’s Bill Gajda confirmed the company’s dedication to turning mobile phones into payment devices, saying.
 
“We're at the dawn of the next generation of mobile money - maybe 'mobile money 2.0.'

As an industry we've moved past what software we're going to buy and can now talk about what we're going to do.”

[TahoeBlue]

Again 2015 as magic date....

Oh and remember Commies love a cashless society hmmmm....

VN moves towards cashless society - Silobreaker

http://www.silobreaker.com/vn-moves-towards-cashless-society-5_2265443594418520094

http://www.m.en.www.info.vn/economy/finance/48794-vn-moves-towards-cashless-society.html
VN moves towards cashless society. Cash payments will make up less than 11 per cent of all transactions in Viet Nam by the end of 2015
...
Many fail to understand the upside of non-cash payment but only take costs into consideration, he said, adding that the current low cash management fees in the country also encouraged people to use cash.


2015 AGAIN....

http://www.nfcrumors.com/09-09-2011/mobile-payments-to-be-worth-945-billion-in-2015/
mobile payments to be worth 945 billion in 2015

Mobile payments set to grow by a 30 fold factor from 2010 levels
September 09th, 2011 at 10:46 AM

IE Market Research have released their latest research and are projecting that global mobile transactions will be worth a total of $945 billion by 2015 which is a 30 fold jump over 2010 figures.


This post was originally written by NFC Rumors. http://www.nfcrumors.com/09-09-2011/mobile-payments-to-be-worth-945-billion-in-2015/#ixzz1pxbVQsbv

[chris jones]

Even if the Bible did not predict a cashless society it would have eventually come to pass for control of mankind is their goal.

 There will always be a "black market" of sorts where barter is king allowing one some anonymity.

Hey Wolf, I agree bartering was around long before gold became king and it continues in many countrys. It's definelty food for serious consideration. When I was a kid I lived with my uncle, he was small time milk farmer, 16 cows, chickens, and vegt garden. Our neighbors had orchads etc  and we would make trades for fruit, vegys etc..Trading for products. Just a simple example.
  There is another side to bartering that can be ruthless, the wealthy and protected can abuse their financial status and access to products the average man can't. In short it can become a slave existance for those of no serious means of survival.

[Trainwreck]

Anyone use paypal a lot? I do, it is BRUTAL...and you never feel like it's your money, they have absolute authority over your bank account with total complicity from the banks...hold your money forever, tax the hell out of you..i hate them.

[TahoeBlue]

pelosi mentioned today by Gerald Celente ....



net worth:
http://en.wikipedia.org/wiki/Nancy_Pelosi

Financial status
 
Nancy Pelosi is among the richest members of Congress,[109] with an estimated net worth of approximately $58 million, the 12th highest estimated net worth in Congress, according to the nonpartisan Center for Responsive Politics


http://articles.nydailynews.com/2011-06-16/news/29687626_1_stock-gains-house-speaker-charles-rangel
House Minority Leader Nancy Pelosi's wealth grows 62% to $35.2M, Boehner, Reid's worth increases too

BY ALIYAH SHAHID
DAILY NEWS STAFF WRITER
Thursday, June 16, 2011

House Minority Leader Nancy Pelosi's net worth skyrocketed 62% last year, to a jaw-dropping $35.2 million, according to financial disclosure forms released Wednesday.

Remember fast and furious gun running?

-- Darrell Issa (R-Calif), inventor of the Viper car alarm system, is among the richest members of Congress.
He reported holdings of between $150 million and $500 million

Issa sends a note...

http://www.foxnews.com/politics/2011/10/12/issa-issues-subpoena-to-holder-in-fast-and-furious-investigation/
Issa Issues Subpoena to Holder in Fast and Furious Investigation
 Published October 12, 2011  | FoxNews.com

Rep. Darrell Issa, chairman of the House Oversight and Government Reform Committee, sent a subpoena Wednesday to Attorney General Eric Holder as part of his investigation into the gun trafficking operation known as "Fast and Furious."
...
The subpoena seeks, among other things, all communications regarding the operation from 16 top Justice officials, including Holder, his chief of staff, Gary Grindler, and the head of the department's criminal division, Lanny Breuer,  as well as correspondence on specific dates to and from the former head of the ATF's Phoenix field division, William Newell.
 
It also asks for all documents and communications referring or relating to the murder of Immigrations and Customs Enforcement Agent Jaime Zapata, including any correspondence outlining the details of Zapata's mission at the time he was murdered.

[TahoeBlue]

http://fellowshipofminds.wordpress.com/2012/01/09/first-cashless-country-on-the-table-italy/
First Cashless Country on the Table – Italy?
Posted on January 9, 2012 by sage_brush | 5 Comments

Businessweek.com reports -

Prime Minister Mario Monti, in office just over a month, wants landlords, plumbers, electricians and small businesses to stop conducting large transactions in cash, which critics say helps them evade taxes.

[size=14t]The government on Dec. 4 reduced the maximum allowed cash payment to 1,000 euros from 2,500 euros[/size].

...

Italian banks, which charge businesses up to 2 percent for credit-card transactions, could end up being the main beneficiaries of the new rules, according to Rome-based consumer group Adusbef. “Unless banks cut fees on credit cards and current accounts, they’ll just make more money from the new law,” said Mauro Novelli, the general secretary of the organization, which represents banking and insurance customers.  [businessweek.com]
 
Imagine that!  Banks stand to make more money from this!  With the euro in such sharp decline, it is safely predictable that other EU countries will ultimately follow suit , and then eventually render all cash payments illegal. 

Know anything about the BIS – or – Bank for International Settlements?  The money elite who orchestrate these currency crises?  From Joan Veon -
...
When you understand that the BIS pulls the strings of the world’s monetary system, you then understand that they have the ability to create a financial boom or bust in a country. If that country is not doing what the money lenders want, then all they have to do is sell its currency.

[Dok]

A Cashless Society May Be Closer Than Most People Would Ever Dare To Imagine

Most people think of a cashless society as something that is way off in the distant future.  Unfortunately, that is simply not the case.  The truth is that a cashless society is much closer than most people would ever dare to imagine.  To a large degree, the transition to a cashless society is being done voluntarily.  Today, only 7 percent of all transactions in the United States are done with cash, and most of those transactions involve very small amounts of money.  Just think about it for a moment.  Where do you still use cash these days?  If you buy a burger or if you purchase something at a flea market you will still use cash, but for any mid-size or large transaction the vast majority of people out there will use another form of payment.  Our financial system is dramatically changing, and cash is rapidly becoming a thing of the past.  We live in a digital world, and national governments and big banks are both encouraging the move away from paper currency and coins.  But what would a cashless society mean for our future?  Are there any dangers to such a system?

Those are very important questions, but most of the time both sides of the issue are not presented in a balanced way in the mainstream media.  Instead, most mainstream news articles tend to trash cash and talk about how wonderful digital currency is.

For example, a recent CBS News article declared that soon we may not need "that raggedy dollar bill" any longer and that the "greenback may soon be a goner"....

It's what the wallet was invented for, to carry cash. After all, there was a time when we needed cash everywhere we went, from filling stations to pay phones. Even the tooth fairy dealt only in cash.

But money isn't just physical anymore. It's not only the pennies in your piggy bank, or that raggedy dollar bill.

Money is also digital - it's zeros and ones stored in a computer, prompting some economists to predict the old-fashioned greenback may soon be a goner.

"There will be a time - I don't know when, I can't give you a date - when physical money is just going to cease to exist," said economist Robert Reich.

rest: http://theeconomiccollapseblog.com/archives/a-cashless-society-may-be-closer-than-most-people-would-ever-dare-to-imagine

[Femacamper]

Well, off the top of my head, hacking, power outages, system failures, top-down corruption, red tape, computer glitches, solar flares, EMPs, to name a few - these can all mess up a cashless society.

And it's not cashless, it's paper cashless...

[Dok]

Mint Promotes Digital-Chip Currency For Penniless Future

On the cusp of the post-penny age, the Royal Canadian Mint is preparing to launch a digital alternative to all coinage and small bank notes — dubbed "MintChip" — which it hails as the natural next step in the "evolution of currency." The concept was quietly introduced on Wednesday when the Ottawa-based Crown corporation activated a website outlining its vision for the future of MintChip — described as "better than cash" and "so easy even a child can use it" — and invited software developers to begin imagining different ways the technology could be employed. In fact, the mint is offering $50,000 in an old-fashioned currency — gold — to winners of a contest aimed at developing smart-phone apps and other ways of demonstrating MintChip's benefits as a payment system for consumers.

http://www.vancouversun.com/technology/Mint+promotes+digital+chip+currency+penniless+future/6418545/story.html