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The drive toward a cashless society has been in progress for some time, but the COVID-19 pandemic has been used as a pretext to accelerate the process
In the documentary “Cash or Card — Will COVID-19 Kill Cash?” producer Kersten Schüssler asks some important questions, like what’s at stake if society truly goes cashless? The answer is both your privacy and your freedom
The digital footprints or financial data trails that you leave every time you pay by card or mobile app are being watched closely and form an important part of surveillance capitalism
Information like how much alcohol you drink or how much you spend on vacation can all be tracked and “sold to the highest bidder”
As a result of this data, you and your neighbor might end up paying different prices for things like flights and hotels, or you might be refused insurance or be passed over for a job offer
Electronic payments are extremely lucrative for banks and payment service providers, while the data broker industry is also making huge revenues
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Cash has long been king, but an increasing number of people have ditched cash in favor of credit cards and other contactless, digital payment options. The drive toward a cashless society has been in progress for some time, but the COVID-19 pandemic has been used as a pretext to accelerate the process.
With infectious dise ..
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