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this post was submitted on 15 Aug 2023
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I'm the opposite; coming from a more digital society my worry isn't that we'll all use smartphones, but that people don't have access to digital initiatives and will be left behind. I also am concerned with how some things don't have more regulatory oversight.
In short, smartphones good, unregulated big tech, bad. Don't throw the baby out with the bathwater.
Lets not forget another scenario, if there is some large scale issue - massive internet outage for whatever reason, you are done in cashless society... You cant buy basic stuff...
And such scenario is not out of a scifi, it happened in 1859 - Carrington event - a solar eruption so large, it completely crippled the whole telegraph system, which is much more resilient than our current electronic age... And its not a question if it happens again, but when...
But we dont even need to go that far, just look at Hawaii - large part of it is out of service due to current fires...
Thats why I would never abandon physical money completely...
So we stay stuck in the past because of the fear of a disaster, is that what you're saying? The communities here can be such a strange mix of ludditeness and technology purism.
We can use new technologies, but we always should have a fallback option, in this case cash, otherwise quite bad things usually happen if the technology fails. Planes also have multiple backup systems, many even systems which can work during total electrical system failure. One would expect similar levels of redundancy in other crucial systems, but somehow this is not really the case.