Why do we have paper/metallic money anymore?

[NuclearNed]

I predict that in 100 years, paper/metallic money will cease to exist in lieu of some sort of personal credit/debit system, much like the debit cards we have today. With personal identification technology (like fingerprint/palm readers, iris readers, etc.), it seems like the government could issue everybody a money card that would be linked to a bank account. I would think that eliminating physical money would also eliminate a ton of overhead expense. Also, people writing bad checks would be a thing of the past.

Just a thought.

 

[Capt Caveman]

Eventually something like that will occur but not anytime soon.

 

[darthsidious]

Yes, in a 100 years it's a given, but your title implies that we should get rid of it now.... which isnt gonna happen

 

[uclaLabrat]

Because strippers don't have card readers?

 

[m1ldslide1]

I heard somebody talk about this on the radio, and so long as people have a need for anonymous transactions, paper money will always exist. I've needed several anonymous transactions this year myself. 😉

 

[IceBergSLiM]

Originally posted by: uclaLabrat
Because strippers don't have card readers?

Agreed.

And people don't want every transaction they ever have made in a database. Some transaction are personal and private. And the currency today says that the bank notes are valid for fulfilling debts both public and private.

 

[PingSpike]

I'm almost there right now. In 5 years I think I'll be able to escape cash completely.

Some places like the fair and stuff don't accept cards, but my opinion on those has been if they don't accept my prefered form of payment then I'm not going there! Unfortunately, my wife disagrees.

 

[Golgatha]

Originally posted by: uclaLabrat
Because strippers don't have card readers?

I imagine a stripper with differently denominated charges hooked to finderprint readers all over her body.

 

[nakedfrog]

I like cash. I always carry cash, and use it for much of my purchasing.
I'm sure banks and CC companies love people that avoid using cash.

 

[sdifox]

Cashless society has been touted as up and coming since like the 50s? Not happening anytime soon though.