I previously written a blog post in February this year about my opinion on the cashless society & that I am strongly oppose the idea of it. mrlimitless95.blogspot.com
Well yesterday, the government in the UK wants to join the likes of China, the European Union & the United States of having digital versions of currencies. Although it can be good (alternative opinion than cryptocurrencies) but if that does mean cashless society then no. google.co.uk
Today, the Chancellor of the Exchequer Rishi Sunak assures everyone in the UK that Britcoin (Digital pound) won’t replace the physical cash note and that it will be regulated by the Bank of England.
Well I am not convinced despite that it won’t really happen in the UK. Going cashless to become the cashless society by ending the use of banknotes.
I said before that it is a ludicrous idea. Cashless society. Especially where it could be disadvantage for old people, those who are disabled & those who does not live in metropolitan cities like London & lives in rural areas & countryside.
As for stealing, hackers, scammers and cyber criminals will still find a way to nick your money online if the society in the UK or indeed, anywhere in the world goes cashless. As someone who have been victim of scams & fraud 5 times, it will be a nightmare.
Just look up at El Salvador. bbc.co.uk Foolish decision to adopt the cryptocurrency Bitcoin as an legal tender. The first ever country in the world to adopt cryptocurrency.
So let’s see what “Britcoin” can do & whether the government is right or wrong to introduce the digital version of Pound Sterling.
For me, it makes no difference whether is digital version of any country currency. Pound, Dollar, Euro, Yen, Yuan, etc or cryptocurrency like the likes of Dogecoin & Bitcoin. Either way, I do not want to see the cashless society in reality ever. Not in the UK or anywhere in the world.
Britcoin could potentially be the gateway to the cashless society. Only time will tell.
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