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Central digital bank currency may be sooner than you think. Cash is no longer king and a few places in Newmarket has already abandoned the traditional values of cash to become cashless.
We are about to abandon the traditional money for a new blockchain digital currency.
Just part of the transition for a near perfect record of every transaction.
https://youtu.be/lTJPO05l91k
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I sure they will still retain some cash or credit card options for us who have no use for cell phones.
You don't stop hunting because you grow old. You grow old because you stop hunting.
- Gun Nut
They will try to it's why it's called cashless and promoting to use even less while promoting businesses to eliminate it.
Will they give us better deal since it's way more cost effective or will it benefit the providers? They want better analysis of data they will have every transaction at the tip of their fingers. That could be good or bad lol. We already know government has tracked us what's stopping them using this data against us.
The bank of Canada said it would be through your phone ,card or other devices maybe the palm of your hand implant if you choose. When the companies switch over after a while it's all they will expect making us take the transition.
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Anyone fill out the consultation?
Like said it was pretty predictable what they were asking. They had a question for the previous answer lol. They wanted to know if you trusted the systems.
Key point it would work offline.
They wanted to know how important that would be .
I think if they can make that work offline then they could also make your debit cards work offline.
It would be linked to your identity.
so for the ones shocked about the uk linking their identity to it is no shocker.
And cash would be still used until the people wean off it .
So that said .
They are already driving the cashless society.
No cash no Canada paper currency excepted. Only plastic cards or digital devices.
Examples are .
Rbc echo Beach cashless
American express budwiser stage cashless
Bmo fields cashless
Roger's center cashless they have an atm to a plastic visa not cash.
Wonderland cashless.
What about service Canada?
Look who deals with millions of people who do not even excepting your Canadian paper cash.
Sorry no cash aloud by the partners who drive the new era .
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Some RBC bank branches already started conversion to cashless
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So the question arises who is driving the cashless system and if they go away with cash is that because the of public interest or their partners within? Seems like the ones driving the agenda are driving the change and they arr all working together.Quote:
Originally Posted by newbiehunter
I want the ability to go to an event in a city and have the choice to use our Canadian currency or plastic. As a Canadian I don't get a say when they take that opportunity away from me or the rest of Canadians.
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The increasing use of digital payments is being driven by retailers, consumers, credit card companies and banks all of whom find non-cash payments more convenient and secure. For example, it's a lot easier for entertainment venues to accept only cards because it means they don't have to collect and account for physical cash after the event is over and they are less vulnerable to theft or employee fraud.
Some of the more conspiratorially minded might distrust digital payments but cash withdrawals and payments are under very tight scrutiny. Withdrawing or depositing over $10,000 in cash triggers a FINTRAC report and expect to be questioned by bank employees if you make a large withdrawal as they may suspect you are being scammed or engaged in illegal activity.
I still carry some cash but rarely use it. The card is more convenient and digital money transfers are significantly easier than writing and mailing a cheque.
Can't go to the dump anymore and pay by cash, debit or credit card only.. What happens to the guys you dealt with that said pay by cash and save 5 %. Retailers will take a hit having to pay a percentage on each and every transaction.
Well dealing with Green P parking for 3 weeks now. Problem you can't prepay your parking at the ramp at Ashbridges Bay(suspect the same at Humber and Bluffers). Sure you can get on your phone at 9:00am and pay on the app but a dinosaur like me with no phone or card is out of luck. Hopefully I can encourage them to switch back to prepay like in previous years.
With a cbdc governments could block your purchasing power on less desirable items such as " "ammunition, drugs and pornography"" ,.
They could also put a expire date it's already being done so we can't say that won't happen. Forced to spend not save .
https://www.infowars.com/posts/wef-d...as-ammunition/
That's what we need a government controlled currency lol.
Again thier words funny how this group is so involved.
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