Removing physical currency from society will be one of the most impactful and positive events in the history of civilization:
- It almost immediately eliminates criminal activity. Without cash, one has to explain transactions. A prostitute must explain why she had a transaction at 2:00 a.m. when she is not employed. Gambling, narcotics, etc. are all in deep trouble instantly.
- It essentially eliminates robbery. Yes, there will be cybercrime of course. But a person hacking my bank account is a billion times safer than a person sticking a gun in my face to take my cash.
Visa unveils new incentive plan to push cashless transactions
- It instantly eliminates all tax evasion. With a digital record of every transaction, all of the criminals who currently don't pay taxes now show an income. That closes a huge gap for the government and eases the burden on the rest of us who do pay our taxes.
The main thing is to install the banksters as middlemen in every single financial transaction.