Cashless future ahead? Utopian digital dream with dystopian inequality
A society without paper money might be a less equitable society. Those lacking digital connectivity would suffer. In Sweden, cash in circulation represents only 1% of the country’s gross domestic product, and some experts predict the nation will go “totally cashless” by 2023. In China’s largest cities, over 90% of people use WeChat Pay and Alipay as their primary payment method, with cash a distant second. It may seem that the transition to a world without paper banknotes and metal coins is inevitable, but this week, a survey reminded us that reports of hard cash’s death may be greatly....
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In her recent post on Crooks and Liars, Karoli, whose pieces I've been reading for some time and generally find well done and intelligent, unfortunately chose to pick up on and excerpt some foolishness from Alex Payne's recent - and rather unimportant - screed against Bitcoin. Payne's piece is particularly vapid and one I didn't think worthy of response, but Karoli's is more interesting as it goes to issues of moral superiority, fantasy, and narrow-mindedness. Plus, as I say, I think Karoli is both a good writer and worth reading. Karoli frames her piece with the headline "Is Bitcoin a....
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