this post was submitted on 25 Oct 2024
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I'm sorry but I don't support a cashless society. Banks and Government overreach too much even now, let alone in a future cashless society.
And aside from that, there's also cybersecurity, connectivity issues, and privacy to consider.
Anyone remember computers going down everywhere at Coles, Airlines and Banks a couple of months ago due to a dodgy software patch? No cash means everything stops.
https://www.theguardian.com/australia-news/article/2024/jul/20/microsoft-it-outage-australian-airlines-banks-and-supermarkets-begin-return-to-normal-operations
I totally agree and the way Aussies are forced into using the banks was one of the first things I noticed when I moved back here from the US.
The banks are getting a cut from every transaction , it's like a tax paid to private companies.
I have one bank account, HSBC, that gives back 1% of any sales by card. They still make a profit.