What I fear is that while you may have a secure stash at home, they'll create the new one world digital curency, and cash will not be taken
anywhere. You'll have 6 weeks or something to turn on your cash for the digital credits. After 6 weeks, the cash will no longer be accepted to trade
for digital currency. Turn it in or lose it.
Well, this is a double-edged sword. A lot of the businesses that operate in cash do so for privacy reasons - yes - but also for criminal reasons.
Hard cash funds terrorists, aids in money laundering, etc. Bad, bad stuff.
At least digital currency is traceable and leaves a money trail. If a digital currency were mandated, a lot of criminal enterprises would have
difficulty operating. However, I do believe that the underground economy would still exist, and cash would be the norm. I don't know how you could
root out cash in the current culture.
There will have to be a major cultural shift, and to a certain extent, this cultural shift has already happened, especially among our younger
generations, who are used to IPhones, online banking, credit cards, etc. - Essentially, they are accustomed already to a cashless society.
You don't necessarily have to make cash illegal. You just sell the masses on the convenience, cost savings, and efficiencies of going digital. Make
The basic question is whether you trust law enforcement to do their job properly. We have locked up a lot of sophisticated criminal rings because
they left a digital trail, so there are benefits to a cashless society in this regard. Yes, there is always the danger that an innocent person could
be caught up and falsely charged, but this could happen regardless of a cashless society.
There are also defensive measures that both a bank and a client can take to protect themselves from digital theft that are not possible with hard
cash. If someone breaks into your home, good luck. Your stash is gone. At least with digital currency, the banks are getting much better at taking
proactive steps to protect your hard-earned assets. If someone in Zimbabwe is trying to use your credit card, and you are located in Texas, the banks
have the sophisticated software to detect this fraudulent activity and prevent it.
So, there are advantages and benefits to both sides of the equation. Hard cash is not always a good thing.