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RE: Australia Is Going Cashless! - This Will NOT End Well
I can’t wait for the day when Australia becomes completely cashless though I resent the intrusion of banks into every transaction. These days we’re not forced to pay fees on the slightest movement of money ( well, im not at least), so I suppose it’s the banks’ power I resent the most’.
I’m virtually cashless right now. Small items and payments I know don’t pass through the ‘declared income’ machinery, are my only needs for cash. If and when Apple Pay applies to all banks, I’ll be very happy indeed because my fingerprints activate my phone. How far superior to endless passwords and codes?
Sounds good, you seem to be happy about it. My problem with this, is that banks will be controlling all of your funds, unless they are for example Bitcoin.
Well, there’s a lot of non-bank fintech startups trying to break the back of the bank payment systems… maybe the future is less with the banks than you think!
In 5 years banks will have fired 90% of their personnel and have big problems to survive. https://www.computerworld.com.au/article/641120/cba-cfo-leaves-bank-role-blockchain-firm/