I was reading a CBC article about proposals to move from a society that uses physical money (coins and bills) to completely digital money. I, for one, am for this, because paper bills get dirty and ripped, are easy to counterfeit, and if you have a lot of cash on hand (especially in a briefcase), it weighs a lot.
Now, I'm against the use of paper for a lot of daily activities (note-writing, keeping medical files, etc.) because of the same reasons I mentioned, not to mention the fact that I have motor skill deficiencies which make my hands less agile and able to rifle through a stack of paper at a pace that most people can do. For this reason, I am on side with the digital currency movement.
No physical money means you can't get mugged for money.
No physical money means transactions go quicker - you don't need exact change for anything any more, because transactions are exact.
No physical money means the bills won't get dirty, ripped, or counterfeited.
No physical money means easier transfer between accounts.
No physical money means you can access it wherever you go - no more need for traveler's cheques, etc.
The main reason I am addressing this issue is because of this Bible passage:
http://endtimesrevelations.
I personally don't think that having a chip on you at all times means you are any more or less likely to deny Christ or lead a life of sin. Money is a form of exchange of value. It is simply a tool. And if we can change the form of the tool to make it easier to use, why not do so?
There are many dissenters to the use of digital money for other reasons, as I have read on the comments section of the original CBC article. They are concerned that the banks will eat up their money by charging fees on every transaction they make, and that they and the governments will be able to track our every move by this digitization of currency, which infringes on their perceived notion of personal freedom.
So I have a solution to that.
I'm sure you had a piggy bank when you were a child. My idea is that everyone keep all their new digital currency in a "digital piggy bank". The device that serves as the piggy bank will use advanced biometrics (thumbprint data, DNA sampling, heart rate monitor, etc.) in order to prevent people who the money does not belong to from accessing or using it.
If the physical piggy bank were to get destroyed, the government would have a backup copy available for you to replace it - but again - nobody could access it except for you, because of the biometrics. So by applying those security features to the device, corporations that want your money would not be able to "just take it". Neither would government.
So how do we make sure people still pay their taxes and don't withhold payment on things?
Well, if for some reason you don't pay your bills on time, there are still collection agencies, right? A person will come to your house with the legal authority to make you pay what you are legally required to pay for: utilities, housing, etc. If you don't pay, you face legal action, same as now.
I'd like to see digital currency implemented this way, because it will save trees, it will prevent people from stealing other people's money, and it will protect the freedoms of the individual.
It's not often that I choose to believe in individual rights over the rights of the community at large, but in this case it is something I feel strongly for.
Now, granted, someone could still steal the actual piggy bank. But....(a) they could not use it due to biometrics. (b) all piggy banks would have tracking devices - perhaps something not easily disabled, like a mild radioactivity emitter. (The very materials that make up the bank could be coated in a substance that gives off a safe form of radiation, thus leaving a trail of bread crumbs for people to find the thing).
Oh - one more thing I have to think about. What happens when the user of a piggy bank dies? How are their worldly assets distributed via their will if nobody can access their piggy bank? Perhaps everyone keeps a sample of their DNA on file in a safe location, which can be used to trigger the release of funds. Something like that. But there would have to be multiple layers to it, like a way to tell the computer chip inside the bank that the user is deceased (i.e. a digital proof of death certificate).
Of course, there is one disadvantage that I haven't addressed with regard to electronic money - and that is the effect of other electromagnetic radiation on devices. If the circuits are scrambled, data (money) is lost forever. So perhaps some form of shielding would need to be in place - circuit breakers, a thin layer of lead to shield from cosmic rays, etc.
Have I lost you yet?
Anyway, give me your thoughts. I'd love to here your perspective on this.
Now, I'm against the use of paper for a lot of daily activities (note-writing, keeping medical files, etc.) because of the same reasons I mentioned, not to mention the fact that I have motor skill deficiencies which make my hands less agile and able to rifle through a stack of paper at a pace that most people can do. For this reason, I am on side with the digital currency movement.
No physical money means you can't get mugged for money.
No physical money means transactions go quicker - you don't need exact change for anything any more, because transactions are exact.
No physical money means the bills won't get dirty, ripped, or counterfeited.
No physical money means easier transfer between accounts.
No physical money means you can access it wherever you go - no more need for traveler's cheques, etc.
The main reason I am addressing this issue is because of this Bible passage:
http://endtimesrevelations.
I personally don't think that having a chip on you at all times means you are any more or less likely to deny Christ or lead a life of sin. Money is a form of exchange of value. It is simply a tool. And if we can change the form of the tool to make it easier to use, why not do so?
There are many dissenters to the use of digital money for other reasons, as I have read on the comments section of the original CBC article. They are concerned that the banks will eat up their money by charging fees on every transaction they make, and that they and the governments will be able to track our every move by this digitization of currency, which infringes on their perceived notion of personal freedom.
So I have a solution to that.
I'm sure you had a piggy bank when you were a child. My idea is that everyone keep all their new digital currency in a "digital piggy bank". The device that serves as the piggy bank will use advanced biometrics (thumbprint data, DNA sampling, heart rate monitor, etc.) in order to prevent people who the money does not belong to from accessing or using it.
If the physical piggy bank were to get destroyed, the government would have a backup copy available for you to replace it - but again - nobody could access it except for you, because of the biometrics. So by applying those security features to the device, corporations that want your money would not be able to "just take it". Neither would government.
So how do we make sure people still pay their taxes and don't withhold payment on things?
Well, if for some reason you don't pay your bills on time, there are still collection agencies, right? A person will come to your house with the legal authority to make you pay what you are legally required to pay for: utilities, housing, etc. If you don't pay, you face legal action, same as now.
I'd like to see digital currency implemented this way, because it will save trees, it will prevent people from stealing other people's money, and it will protect the freedoms of the individual.
It's not often that I choose to believe in individual rights over the rights of the community at large, but in this case it is something I feel strongly for.
Now, granted, someone could still steal the actual piggy bank. But....(a) they could not use it due to biometrics. (b) all piggy banks would have tracking devices - perhaps something not easily disabled, like a mild radioactivity emitter. (The very materials that make up the bank could be coated in a substance that gives off a safe form of radiation, thus leaving a trail of bread crumbs for people to find the thing).
Oh - one more thing I have to think about. What happens when the user of a piggy bank dies? How are their worldly assets distributed via their will if nobody can access their piggy bank? Perhaps everyone keeps a sample of their DNA on file in a safe location, which can be used to trigger the release of funds. Something like that. But there would have to be multiple layers to it, like a way to tell the computer chip inside the bank that the user is deceased (i.e. a digital proof of death certificate).
Of course, there is one disadvantage that I haven't addressed with regard to electronic money - and that is the effect of other electromagnetic radiation on devices. If the circuits are scrambled, data (money) is lost forever. So perhaps some form of shielding would need to be in place - circuit breakers, a thin layer of lead to shield from cosmic rays, etc.
Have I lost you yet?
Anyway, give me your thoughts. I'd love to here your perspective on this.
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