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Fear the Cashless Society By James Reed

     The trial run was in India, but across the world, the power elites are beginning the movement towards the cashless society, and Australia is no different:
  http://www.abc.net.au/news/2017-03-27/is-australia-on-the-brink-of-becoming-cashless-society/8377288

“The Reserve Bank is introducing new technology this year which will push Australia even further towards being a cashless society. Later this year the bank will roll out a new system called the New Payment Platform (NPP). The NPP will mean money can be transferred almost instantaneously, even when the payer and payee are members of different banks. The technology will also support “overlay” services, meaning banks will be able to create their own payment services to entice customers. Professor Richard Holden, from the University of New South Wales, has been studying the rise of the electronic economy and said the NPP would make electronic payments “super easy.”

“[It] is going to make it super easy to transfer money instantaneously for free of any amount or kind,” he said.
“So you’re not going to have to worry about setting up someone as a payee in your online banking and making sure you’ve typed in the BSB number and stuff like that.”

     Oh, well, it must be good then! Not a drop of criticisms here about some of the clear disadvantages of the cashless Australia, predicted to be by 2020. At the individual freedom level it will mean that big Brother will be able to monitor and potentially control all transactions. It will make those attempting to escape from the system and live off grid, certainly something that many of us would like to do, more difficult.

     Finally, even if there were no freedom and privacy issues, this move is making society more vulnerable, not less vulnerable. We may find that hackers have brought down the AI architecture one day, so that peole would not even be able to buy food to eat. Or, there could be an EMP attack on the grid by North Korea, who has threatened to nuke Australia.

     The cashless society a crazy anarcho-tyrannical idea in a world gone techno-mad.

 

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Thursday, 02 July 2020
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