We’re standing at a true turning point in history – cash, the physical medium of exchange, is becoming obsolete. In its place are credits and it’s not hard to envision a future where your account data is implanted right into the palm of your hand. Our entire current concept of money will be gone, replaced with 1s and 0s that are with us at all times.
It would be nice, as you’d no longer run to the grocery just to find you left your wallet at home. Imagine paying your bill while waving goodbye – nothing to sign, no hassles for a cheque approval. Then imagine no more trips to the bank, no more miserable issues of a lost or stolen card, no more ATMs. Take it a step farther and you can see a drop in muggings and robberies as credit cards and cash would no longer be able to be stoeln from the person.
But don’t worry parents about not being able to give Junior a few bucks for the movies – a couple clicks at a terminal and you can put the credits right into his account using an ultra-secure transfer.
As I type I invision all of the potential pitfalls but the possibilities are also exciting. I dont think will see a cashless world in the next five or ten years but its impending reality is no longer even questioned.
The new fronts on terrorism or theft will be played out on line. Stakes will be high as your entire life is rapped up by a couple bits of data. Demands for electricity and connections on the internet will be as important as eating.
More and more people will be forced above board if all payment transactions have to go through a type of median. The only times I use cash now is when people pay me under the table, playing poker with friends or tithing to my church.
I think I’ll have to buy a beer in the honour of the end of an era of history on the day my cash is no longer “Legal tender.”





