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> Very few people in a cashless society are wanting to go back to the old ways. I don’t think that’s true. Also, never “trust” a bank with your money, for starters, “your money” is nothing but a fake number that doesn’t actually reflect a physical monetary asset, hence why if enough amount of people withdraw their money, you end up with a bank run, aka, the bank digital fake numbers are more than the actual physical papers. Additionally, in many cases you don’t want to be in entirely cashless system, besides the privacy concerns, you might get locked out of your account because the network operator malfunctioned (like Rogers in Canada back in 2022 I think, all ATMs were useless, purchase points, etc.), or maybe a sun coronal mass ejection that fries some utility power plants, or drop in the frequency and you end up like Spain last year or the year before. The more you rely on one centralized point, the worse, hence why engineers avoid single point of failure in any design, be smart, and diversify your options. |
It is.
Source, me in Sweden.