True Aengus, but it's not exageration is propaganda. The banks have a hard campaign to remove cash, as cashless means more lowered costs, less personnel (bank execs get fat bonusus from retrenching people), ergo, higher profit. How successfully they lobby Government depends on which party they donate to. I use on-line banking, from a PC, with a full 3rd party security suite. I use Paypal. I do not use my phone for any financial transaction as I know from 45 years in IT that software and mobile phone manufacturers cannot be trusted to not secretly harvest data (there is $$ in it for them). If you think you know what your phone is doing you are delusional. Moreover, if I'm stupid enough to lose my phone I have no risk. Also, I have no issue with 'lugging around' credit cards.
Cash will stay because the transactions are simple and without risk, you don't pay charges to use cash, and if financial experts that provide advice to young people are successful, then young people will stop using the phone and use more cash because they have more control over their limited funds.
Hello Stuart. My share and financial dealings similarly are of a digital nature from an intermittently connected desktop with firewall and I optimise the security arrangements around such despite the tedious nature at the time of retrieving text codes or finger/face recognition second level log-ins. Despite all this being available, identity theft is a very large, under reported, and devastating life event. I don't trust my phone very much at all, tbh.
I benefit from increased bank profits, as it happens.
Not everybody will benefit if all 'cash ' ever transitions to digital. This is regularly discussed online, often in conspiracy theorist groups admittedly, but one doesn't have to wear a tinfoil hat to see that if currency becomes digital that a rogue government (Labor/Lib.nat/GREENS in this country...) got control that there is very little that one could do about the future silly policies that they believe are for the best of our nation without being seriously cancelled. Of note here is the Green offer of support for the flawed div. 296 bill in senate on provision of a reduced limit to super.. If the currency were already digitalised, there would be big problems for people moving their money around in the face of the new unprecedented taxation methodoligies being forced through.
Perhaps we should have a propaganda missive on blockchain?
Reports of the death of cash are greatly exaggerated as they have been on all previous occasions . Seven years, you reckon? Not 6years and 11 months? No more imbecilic a statistic than the percentages allocated to cash users etc. in the article however (cannot locate source but interested to know how many tradies were surveyed (Real number, please)
This drive would originate from government t, not banks, as they seek control and revenue and follow China's playbook and the government do not often cover themselves in glory when they get complete control of our money.
Handbag theft is appalling and traumatising enough when the miscreant gets one's cash but if they take the loaded phone as well it becomes a disaster and the possibility of having to trawl the dark Web and fight Medicare, banks, Home Affairs etc to prove who you are then looms.
I'm 70 years old and consider myself pretty savvy at operating my banking app (when it allows me.) But it's not all roses like you're painting it. We have had major stress and aggravation occur through no fault of our own but rather from banking staff stuff ups and/or computer glitches. And let's not forget those best and brightest degree waving IT techos who just have to keep fiddling, changing and making the app increasingly hard to navigate to demonstrate how clever they are. Our greatest joy these days is to visit our local post office to withdraw money, have a chat with our lovely post mistress, chat to others waiting, without fuss. We have a six year old grandson, poor little fella, what a dystopian kind of world he is going to have to try to understand. I'm glad I won't be around to run the gauntlet of this increasingly escalating madness.
I'm in a north Brisbane area where we still have intermittent problems with accessing the internet (I know - who'd have thought it in this day and age!). Just this weekend I saw a number of businesses who were unable to process digital transactions due to no internet or their digital paying system was "down". Hence I will still always carry cash in my wallet for the times when the "digital economy" isn't working!
True Aengus, but it's not exageration is propaganda. The banks have a hard campaign to remove cash, as cashless means more lowered costs, less personnel (bank execs get fat bonusus from retrenching people), ergo, higher profit. How successfully they lobby Government depends on which party they donate to. I use on-line banking, from a PC, with a full 3rd party security suite. I use Paypal. I do not use my phone for any financial transaction as I know from 45 years in IT that software and mobile phone manufacturers cannot be trusted to not secretly harvest data (there is $$ in it for them). If you think you know what your phone is doing you are delusional. Moreover, if I'm stupid enough to lose my phone I have no risk. Also, I have no issue with 'lugging around' credit cards.
Cash will stay because the transactions are simple and without risk, you don't pay charges to use cash, and if financial experts that provide advice to young people are successful, then young people will stop using the phone and use more cash because they have more control over their limited funds.
Cash is dead?
Nah,you getting a kick back from the Banks ?
Hello Stuart. My share and financial dealings similarly are of a digital nature from an intermittently connected desktop with firewall and I optimise the security arrangements around such despite the tedious nature at the time of retrieving text codes or finger/face recognition second level log-ins. Despite all this being available, identity theft is a very large, under reported, and devastating life event. I don't trust my phone very much at all, tbh.
I benefit from increased bank profits, as it happens.
Not everybody will benefit if all 'cash ' ever transitions to digital. This is regularly discussed online, often in conspiracy theorist groups admittedly, but one doesn't have to wear a tinfoil hat to see that if currency becomes digital that a rogue government (Labor/Lib.nat/GREENS in this country...) got control that there is very little that one could do about the future silly policies that they believe are for the best of our nation without being seriously cancelled. Of note here is the Green offer of support for the flawed div. 296 bill in senate on provision of a reduced limit to super.. If the currency were already digitalised, there would be big problems for people moving their money around in the face of the new unprecedented taxation methodoligies being forced through.
Perhaps we should have a propaganda missive on blockchain?
Reports of the death of cash are greatly exaggerated as they have been on all previous occasions . Seven years, you reckon? Not 6years and 11 months? No more imbecilic a statistic than the percentages allocated to cash users etc. in the article however (cannot locate source but interested to know how many tradies were surveyed (Real number, please)
This drive would originate from government t, not banks, as they seek control and revenue and follow China's playbook and the government do not often cover themselves in glory when they get complete control of our money.
Handbag theft is appalling and traumatising enough when the miscreant gets one's cash but if they take the loaded phone as well it becomes a disaster and the possibility of having to trawl the dark Web and fight Medicare, banks, Home Affairs etc to prove who you are then looms.
A sharp introduction to the digital age indeed.
I'm 70 years old and consider myself pretty savvy at operating my banking app (when it allows me.) But it's not all roses like you're painting it. We have had major stress and aggravation occur through no fault of our own but rather from banking staff stuff ups and/or computer glitches. And let's not forget those best and brightest degree waving IT techos who just have to keep fiddling, changing and making the app increasingly hard to navigate to demonstrate how clever they are. Our greatest joy these days is to visit our local post office to withdraw money, have a chat with our lovely post mistress, chat to others waiting, without fuss. We have a six year old grandson, poor little fella, what a dystopian kind of world he is going to have to try to understand. I'm glad I won't be around to run the gauntlet of this increasingly escalating madness.
I'm in a north Brisbane area where we still have intermittent problems with accessing the internet (I know - who'd have thought it in this day and age!). Just this weekend I saw a number of businesses who were unable to process digital transactions due to no internet or their digital paying system was "down". Hence I will still always carry cash in my wallet for the times when the "digital economy" isn't working!