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Keyword: cashless

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  • Cash, long a refuge in uncertain times, now under suspicion

    05/20/2020 2:57:32 AM PDT · by SaveFerris · 69 replies
    AP ^ | today (hey it says that) - 5/20/2020 | By ZEINA KARAM
    BEIRUT (AP) — In troubled times, people have been known to hoard currency at home — a financial security blanket against deep uncertainty. But in this crisis, things are different. This time cash itself, passed from hand to hand across neighborhoods, cities and societies just like the coronavirus, is a source of suspicion rather than reassurance. No longer a thing to be shoved mindlessly into a pocket, tucked into a worn wallet or thrown casually on a kitchen counter, money’s status has changed during the virus era — perhaps irrevocably. The pandemic has also reawakened debate about the continued viability...
  • New Coronavirus Stimulus Bill In Congress Creates U.S. Digital Dollar

    03/24/2020 3:44:41 AM PDT · by blueyon · 57 replies
    forrbes.com ^ | Mar 23, 2020 | Jason Brett
    As the markets continue to drop and the U.S. looks to Congress for agreement on a massive stimulus package to save the economy from impacts of the coronavirus pandemic, the newest offer by House Democrats includes a very forward-looking kind of stimulus: the creation of a ‘digital dollar’ and the establishment of ‘digital dollar wallets.’ In what will send shock waves through the cryptocurrency and blockchain industry, particularly for those following central bank digital currencies around the world, this signals the U.S. is serious in establishing infrastructure for a central bank digital currency.
  • Avoid cash to stop coronavirus spreading, World Health Organisation warns

    03/03/2020 9:07:35 PM PST · by Berlin_Freeper · 88 replies
    metro.co.uk ^ | 3 Mar 2020 | Sam Courtney-Guy
    Global health authorities have advised people to use contactless payments instead of banknotes where possible in order to stop spreading the new coronavirus. Health experts have previously warned that the virus can survive on inert surfaces long enough to infect new hosts, although the risk is believed to be lower than human-to-human contact. But a spokesperson for the World Health Organisation (WHO) told the Telegraph on Monday that the virus can remain infectious on banknotes for several days. The Bank of England has also acknowledged that banknotes ‘can carry bacteria or viruses’ and encourages shoppers to wash their hands after...
  • China's march to be the world's first cashless society

    12/17/2019 9:32:28 AM PST · by SeekAndFind · 34 replies
    The Straights Times ^ | Harvey Morris
    China, the nation that introduced the world to banknotes, is now setting the pace in the competition to become the first cashless society. Already by 2017, more than three-quarters of Chinese people were using digital payments in preference to cash, and the number was rising fast. Now, the central bank and other financial authorities have announced they want to spread the benefits of going cashless to the four out of 10 people in China who still live in rural areas. The focus on agricultural communities will put a further dent in the perception that electronic payments are the preserve of...
  • 70-mile stretch of turnpike through Central Florida going cashless

    06/11/2019 3:31:03 PM PDT · by Tolerance Sucks Rocks · 66 replies
    ClickOrlando.com ^ | May 22, 2019 | Adrianna Iwasinski
    ORLANDO, Fla. - Imagine not being able to pay cash for some of the toll roads you use every day. It's already happened in and around Miami and near Tampa, but now it is going to be happening in Central Florida. The Florida Turnpike Enterprise confirmed that all Florida's Turnpike roadways are going to all-electronic tolling in a 70-mile stretch from Osceola County to Sumter County by next summer. According to FTE, the project will take place on Florida's Turnpike from Kissimmee Park Road at milepost 239 to I-75, which is at milepost 309. "They're going to continue on the...
  • Winds of Change: The Case for New Digital Currency (IMF urges cashless global currency)

    11/15/2018 11:54:04 AM PST · by MarchonDC09122009 · 80 replies
    IMF.org ^ | 11/15/2018 | IMF
    https://www.imf.org/en/News/Articles/2018/11/13/sp111418-winds-of-change-the-case-for-new-digital-currency Winds of Change: The Case for New Digital Currency By Christine Lagarde, IMF Managing Director  Singapore Fintech Festival November 14, 2018 Full text As prepared for delivery  Introduction Distinguished guests, ladies and gentlemen—good morning and thank you for the opportunity to participate in this important event. In Singapore, it is often windy. Winds here bring change, and opportunity. Historically, they blew ships to its port. These resupplied while waiting for the Monsoon to pass, for the seasons to change. “Change is the only constant,” wrote the ancient Greek philosopher, Heraclitus of Ephesus. Singapore knows this. You know this. It...
  • Stealing From a Cashierless Store (Without You, or the Cameras, Knowing It)

    09/16/2018 7:21:21 PM PDT · by Theoria · 74 replies
    The New York Times ^ | 13 September 2018 | Nellie Bowles
    A start-up uses visual tracking and behavioral data to operate a new San Francisco market, which lets shoppers walk out unimpeded. And sometimes mischarged. One recent afternoon, the city’s newest grocery market was trying to figure out whether I would buy, steal or leave behind a bag of white Cheddar popcorn — and so was I. On its side: 27 cameras along the ceiling and a wealth of behavioral data. On my side: crippling indecision. Last week, San Francisco got its first completely automated cashierless store, Standard Market. Shoppers who have downloaded the store’s app can go into the 1,900-square-foot...
  • Homeless people wearing barcodes to accept cashless payments

    08/10/2018 8:42:51 AM PDT · by Roman_War_Criminal · 31 replies
    telegraph ^ | 8/8/18 | Camilla Turner
    Homeless people are wearing barcodes around their necks in an attempt to increase donations in a cashless society, under an Oxford University backed initiative. A new social innovation project, called Greater Change, hands homeless people a QR code, similar to the kind issued for online tickets. Passersby who wish to give money - but who may not have any change in their pocket - can scan the code using their smart phone, and make an online payment to the person. The donation goes into an account which is managed by a case worker who ensures that the money is spent...
  • Homeless people wearing barcodes to accept cashless payments

    08/09/2018 9:04:35 AM PDT · by MarchonDC09122009 · 24 replies
    UK Telegraph ^ | 8/8/2018 | Camilla Turner
    By Camilla Turner 8 AUGUST 2018 • 7:25PM Homeless people are wearing barcodes around their necks in an attempt to increase donations in a cashless society, under an Oxford University backed initiative. A new social innovation project, called Greater Change, hands homeless people a QR code, similar to the kind issued for online tickets. Passersby who wish to give money - but who may not have any change in their pocket - can scan the code using their smart phone, and make an online payment to the person. The donation goes into an account which is managed by a case...
  • Backlash building to cashless movement

    07/10/2018 9:29:06 AM PDT · by C19fan · 73 replies
    Washington Post ^ | July 9, 2018 | Fenit Nirappil
    Aaron Bateman pulled out a few $20 bills to pay for a taco lunch in the nation's capital. To his surprise, his money was no good in the city where money is printed. Surfside, a popular 24-hour Mexican eatery, doesn't take cash. No cash means no register for robbers to empty out, no bills for workers to slip into their pockets and no change counting holding up lines.
  • The Technological Tipping Point

    07/08/2018 6:29:56 AM PDT · by Roman_War_Criminal · 54 replies
    Rapture Forums ^ | 7/8/18 | Matt Ward
    “Winston kept his back turned to the telescreen. It was safer, though, as he well knew, even a back can be revealing” (1984, George Orwell). It is no overstatement to say that we stand on the brink of a technological revolution that is going to change our world forever. This technological transformation is happening right now, and we will see significant change occur, not over the next couple of decades, but within the next couple of years. Very few people in today’s busy world are aware of just how much their lives are about to change, and how unavoidable and...
  • Islamic world warms to the coming cashless society

    04/26/2018 5:45:21 PM PDT · by LeoHohmann · 10 replies
    LeoHohmann.com ^ | April 26, 2018 | Leo Hohmann
    As long as the world's fastest-growing religious-political system -- now encompassing one-fifth of the world's population – considers digital currency haram, or forbidden, it is unlikely that such a system would gain widespread global acceptance. But what if cyrptocurrencies now considered haram by Muslim leaders could be made halal, or acceptable, under Sharia law? And what if I told you efforts are underway to do exactly that?
  • These countries have gone mostly cashless

    10/16/2017 12:42:39 AM PDT · by SaveFerris · 77 replies
    Yahoo! Finance ^ | Thu, Oct 12 2:59 PM CDT | Brittany Jones-Cooper
    They say that cash is king, but newer and more convenient payment methods are gunning for the crown. These days, more and more countries are adopting cashless payments, which includes credit card purchases, contactless payments, mobile banking apps and digital options like Apple Pay. To see which countries were adopting cashless the quickest, Forex, a global travel site, conducted a study comparing 20 of the world’s largest economies. In the report, Canada was singled out as the country most embracing cashless technology, which could be attributed to its population changing attitudes that began several years ago. A recent survey in...
  • In a Cashless World, You'd Better Pray the Power Never Goes Out

    10/11/2017 9:43:03 AM PDT · by markomalley · 52 replies
    Mises Institute ^ | 10/10/17 | Ryan McMaken
    When Hurricane Maria knocked out power in Puerto Rico, residents there realized they were going to need physical cash — and a lot of it. Bloomberg reported yesterday that the Fed was forced to fly a planeload of cash to the Island to help avert disaster: William Dudley, the New York Fed president, put the word out within minutes, and ultimately a jet loaded with an undisclosed amount of cash landed on the stricken island...[Business executive in Puerto Rico] described corporate clients’ urgent requests for hundreds of thousands in cash to meet payrolls, and the challenge of finding enough armored cars to satisfy endless demand at...
  • Cashless Society Alert: Visa Will Be Giving Up To $500,000 To Restaurants That Go ‘100% Cashless’

    07/19/2017 9:48:33 AM PDT · by Roman_War_Criminal · 44 replies
    Economic Collapse Blog ^ | 7/17/17 | Michael Snyder
    The push toward a cashless society is becoming more of a shove. Before today I had never heard of “The Visa Cashless Challenge”, but after reading about it I have to say that I am quite alarmed. Visa is trying to “encourage” businesses to go cashless, and one of the ways that they will be doing this is by “awarding up to $500,000 to 50 eligible US-based small business food service owners who commit to joining the 100% cashless quest”. The food industry is still one of the last bastions where cash is used very heavily, and so it makes...
  • Quiet Victory for Elites Accelerates Cashless Agenda

    02/14/2017 1:30:47 PM PST · by Lorianne · 33 replies
    World leaders and economists are pushing harder than ever toward a cashless society. With anti-cash measures already being tested in Europe and the Third World, itÂ’s only a matter of time until the global elite push for the same in the U.S. Will globalistsÂ’ dream of a cashless society soon become reality? Plotting in Switzerland Last month, members of the World Economic Forum, more commonly known as the Davos Elite, met for their annual gathering in Switzerland, and the pursuit of a global cashless society was a major topic on their agenda. Nobel Prize-winning economist Joseph Stiglitz, a key member...
  • Crime Deterrent Or Inconvenience? Coffee Shop Goes Cashless

    02/03/2017 3:24:24 PM PST · by simpson96 · 32 replies
    CBS Baltimore ^ | 2/2/2017 | Devon Bartoletta
    BALTIMORE (WJZ) — After being robbed a handful of times in the past few months, one Baltimore coffee shop is no longer accepting cash to stop the robberies and keep their staff safe. Nowadays, many people don’t carry cash in their wallets day-to-day, and at Park Cafe in Bolton Hill, cash payments are no longer on the menu. “We’re not going to accept cash anymore,” said Park Cafe & Coffee owner David Hart. “I’m going to take that out of the equation.” Park Cafe was robbed five times from October to January. While the armed suspect is now behind bars,...
  • Massachusetts Turnpike: EZ-Pass Replaces Cash, Toll Booths Now a Thing of the Past

    11/12/2016 1:03:35 AM PST · by Tolerance Sucks Rocks · 62 replies
    Inquisitr ^ | October 30, 2016 | Ryan Anthony
    The Massachusetts Turnpike is in uncharted water as EZ Pass has replaced cash along the state’s turnpike system and many toll collectors have been laid off. In a world where many systems have gone electronic from payment for movies to parking, it was only a matter of time before the personless, electronic system eventually took over toll roads, as well. Along the Massachusetts Turnpike, it happened this weekend with toll collectors working their last shifts and the state moving quickly to tear down the booths where collections happened for decades. According to the Boston Globe, the new cashless collections system...
  • Buzzfeed 'Mark of the Beast' Experiment

    05/30/2016 3:07:27 PM PDT · by amessenger4god · 75 replies
    Unsealed.org ^ | 5/30/2016 | Gary
    Buzzfeed reporter Charlie Warzel, who claims inspiration from the biblical Mark of the Beast, has his hand implanted with a payment chip and lives for a month wallet and cash-free.  This report is beyond disturbing and shows how utterly debased the secular mind has grown in just the last few years.  Now, not only is this kind of thing not shied away from, but unbelievers are actually finding inspiration in Revelation 13:16-17 for what a cashless society should look like. Here is his article, amazingly titled "Satan's Credit Card: What The Mark Of The Beast Taught Me About The Future...
  • Larry Summers joins bitcoin firm as a senior advisor

    04/28/2016 11:40:56 AM PDT · by posterchild · 11 replies
    finance.yahoo.com ^ | Apr 28, 2016 | Daniel Roberts
    Digital Currency Group is busy these days. In the last four months alone, the company acquired the biggest bitcoin news site, CoinDesk, and along with it, the biggest bitcoin conference, Consensus; it also gave money to Coin Center, the bitcoin industry's nonprofit advocacy group. On Thursday, DCG announced a laundry list of new investors and additions to its team, and among them is one very big name: Larry Summers. Summers, former Treasury secretary and former president of Harvard University, is joining DCG as a senior advisor. It is a reminder that Summers believes in the future of bitcoin, the crypto-currency...