Just yesterday, a business I had to deal with was Code Online Down and all their systems were compromised by 'whatever'?
Thing is, this can happen to our Economy if it is fully DEPENDENT on Computer/Online Economics especially where MONEY is involved. There is not one 100% 'security' system out there, even for the CIA and the world's wealthiest - that is fullproof from compromise and failure.
The CIA have been compromised in the last year - twice.
Australia's National Security got taught a lesson by China a few years back and so on with Optus, now Telstra and many businesses around the country with such things as Ransomware and plain destructive viruses, etc.
Now they want to try and 'force' the Cashless Society upon Australia (the petrie dish) and charge people for using CASH.
If there is no 'physical' presence of Money, then it ceases to exist. Just being a digit on a printout, etc - just doesn't cut it for me. It's as if they've basically 'taken the money' from any or all possession from me.
It will fail eventually, the Cashless Society. Because after a time, people will have 'Cards' representing the levels of worth upon them as if Money in the physical form anyway.
Leaving your Wi-Fi on via Watch, Phone, etc - and someone nearby, sitting in a car or walking past, can tap into your details there and then. Account details and all. They will always find a way - technology always has its 'holes' to exploit.
As I've always said
"It's cheaper to be mugged in an alleyway of $100 than it is to be mugged online of $10,000"The Computer/Online system is good and needed. But we should never dismiss Cash as a contingency backup or we really will 'pay' as a nation and society.
Why Cashless?
Well over 2000 tests were done a decade ago involving volunteers (thousands) asked. Where half were given Cash and the other 'Tap & Go'. The difference of people spending was that 80% of the Tappers spent their amounts faster and maxed out. Those with Cash, were more fugal in their spendings.
...you could say, they want you to 'spend your money' and keep less for yourself. Basically that's why they want the Cashless Society 'totally'.
https://www.msn.com/en-au/news/australia/nat-barr-exposes-a-major-problem-with-a...