Nice article up at Counting Cats on Digital Cash. PaAnnoyed explains his articles well and they are always worth a read.
However, I’m never one for changing something that works for something that has technology involved just for the sake of technology. Technology such as encrypting and blind signitures are of use and are no doubt being used where it works out but as a replacement for cash? I doubt it. To many things to go wrong and, this is the important bit, it is still within the view of the all seeing government. In my opinion the real reason people use cash is to keep themselves out of the governments view so anything that does not address that is of no use.
As you say Lord T, ‘it is still within the view of the government’ and that is exactly why cash will not go out of fashion. Over here in France, evading the tax man is a national obsession. I know of people that work on an ‘I’ll do that for you – you owe me the equivalent in what you do’, nothing changes hands but the work gets done and everyone is happy.
The digital cash idea, good as it is, assumes everyone has a bank account. What about those that don’t? For example the French banking system can ban someone from having an account for 5 years, just for going overdrawn without authority.
This is off topic but you better post a comment or two over at Higham’s crazy place my friend. I’m only two behind you
Ivan,
It is common practise over here as well although most don’t get the opportunity. If they did the coffers would be emptier than they are now. It was the old way and it still works well.
I’m not sure everyone needs a bank account but everyone needs a computer, and a reliable one at that.
Many here don’t have bank accounts either but usually by choice as you can get them and no bank can stop other banks giving you an account. For some reason though I’m not surprised that can happen in France.
Andrew,
Go for it. I only comment when I have something to say.
That way they can’t track you down, the bastards.
Exactly.