Conversation

James S.A. Corey
@JamesSACorey
This is exactly the point. We're boxing out people who are already at the bottom rung economically, making it increasingly difficult for them to be part of our transaction system at all.
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Django Wexler
@DjangoWexler
Replying to @DjangoWexler and @JamesSACorey
So I both see why they do it, but I also worry about creating a two-tiered system like you said, where poor people literally can't even get in the door of rich-people shops because they won't accept their money.
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James S.A. Corey
@JamesSACorey
And this is pretty personal for me. When I was 18 I had a shitty job and a tiny apt I could barely afford with a roommate. But I need to pay bills so I got my first checking account. Then a few unforeseen money hits later, I unintentionally bounced a couple checks.
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James S.A. Corey
@JamesSACorey
The bank closed my account. And because this closure showed up on my credit report, I could not get another account even once I'd gotten my finances in order. It took over a year before I could get a new account. In a cashless society, that is a year where I can not buy stuff.
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Daniel Micay
@DanielMicay
Replying to
@JamesSACorey
Financial services also keep a record of purchases and can make it available to others. They often sell it to other parties. The data can also be compromised or leaked. Mass surveillance of payments is the status quo. It puts some people at risk and impacts what people buy too.
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