logo
g Text Version
Beauty & Self
Books & Music
Career
Computers
Education
Family
Food & Wine
Health & Fitness
Hobbies & Crafts
Home & Garden
Money
News & Politics
Relationships
Religion & Spirituality
Sports
Travel & Culture
TV & Movies

dailyclick
Bored? Games!
Nutrition
Postcards
Take a Quiz
Rate My Photo

new
Folklore and Mythology
Baptist
Florida
Cosmetics
Distance Learning
Reading
Crochet


dailyclick
All times in EST

Full Schedule
g
g Coin Collecting Site

BellaOnline's Coin Collecting Editor

g

Cashless Movement Gaining


Coin collectors are looking towards a full fall season. The general public continues to take not only coins, but bank notes for granted as a part of our everyday financial life. Increasingly, people outside the United States are beginning to wonder, just how many coins are going to be available in circulation in the near future.

The world is changing whether you like it or not. We are looking at technology that is moving us increasingly to becoming a cashless society. One wonders whether this is for the better or for the worse. The arguments both for and against doing away with coins and bank notes are becoming well known.

Likely the most important argument against going entirely cashless is the privacy factor. Any government can go “Big Brother.” If all monetary transactions are done through electronic transfers, this same government can not only monitor how people spend their money, but it can seize assets with a click of a button or two. This becomes a very easy way to neutralize political adversaries.

The less obvious issue is that going cashless entrusts our entire monetary system to the banking system. Don’t forget that this is the same banking crowd that almost went to ruin during the Great Recession, that we are still trying to recover from.

The threat from cashless technology is more ominous than you might expect. Three Square Market in River Falls, Wis. Is already offering its employees the “opportunity” to be imbedded with a biochip through which financial transactions can be accomplished.

Of course the company insists that the chips are not being used to track people or their spending habits. Can you really trust this to be so? How long would it take them to switch over and actually tack their employees without their knowledge?

This would be something you would expect from a regime like North Korea. The real surprise comes from a different one-political party governed nation, that being the People’s Republic of China. It is the people of China who are embracing the cashless concept voluntarily rather than due to the dictates of their government.

This cashless system is centered between two Chinese companies, Tencent and Alibaba. Tencent’s system is called WeChat, while Alibaba’s financial affiliate Ant Financial operates Alipay. Both use smartphone payment option technology.

Both companies have the capability of providing inexpensive payment capabilities even to small merchants, who can get a printout of a QR code or use their phones rather than an expensive card reader. Both companies are projected to surpass both Visa and MasterCard in total daily transactions.
Add Cashless+Movement+Gaining to Twitter Add Cashless+Movement+Gaining to Facebook Add Cashless+Movement+Gaining to MySpace Add Cashless+Movement+Gaining to Del.icio.us Digg Cashless+Movement+Gaining Add Cashless+Movement+Gaining to Yahoo My Web Add Cashless+Movement+Gaining to Google Bookmarks Add Cashless+Movement+Gaining to Stumbleupon Add Cashless+Movement+Gaining to Reddit




RSS | Related Articles | Editor's Picks Articles | Top Ten Articles | Previous Features | Site Map


For FREE email updates, subscribe to the Coin Collecting Newsletter


Past Issues


print
Printer Friendly
bookmark
Bookmark
tell friend
Tell a Friend
forum
Forum
email
Email Editor


Content copyright © 2015 by Gary Eggleston. All rights reserved.
This content was written by Gary Eggleston. If you wish to use this content in any manner, you need written permission. Contact Gary Eggleston for details.

g


g features
Initial Coin Offerings Not Just For CryptoCoins

Getting Started Collecting Coins

Getting Started With Coins

Archives | Site Map

forum
Forum
email
Contact

Past Issues
memberscenter


vote
Poetry
Daily
Weekly
Monthly
Less than Monthly



BellaOnline on Facebook
g


| About BellaOnline | Privacy Policy | Advertising | Become an Editor |
Website copyright © 2016 Minerva WebWorks LLC. All rights reserved.


BellaOnline Editor