Thailand's Cashless Leap: Ahead of the Asean Pack by 2028

[sabai-dee-man]

On 10/5/2024 at 9:38 AM, Surasak said:

Two washing machines, both take coins. How do they go cashless??!!

 

Tokens, paid for by card/phone, eventually.

 

And really, what's to stop any coin operated machine currently being manufactured from being made with a contactless option from now on? I expect they're already a thing in some countries.

[farangkinok]

You'll never get a negative interest rate with cash. When cash is completely eliminated, you will be at the mercy of either the bank(s) or the central government in the case of CBDCs. When the government wants to increase the velocity of money, they'll force interest rates to be negative, which will strongly influence you to spend your money rather than save, for if you don't spend your money, it will gradually dwindle to nothingness. I'd rather have cash, or better yet, something with true intrinsic value, be it gold, silver, or some other tangible good with a long shelf life which is suitable for barter. Throughout history, people have used many things as money, such as animal pelts and tobacco, to cite a couple of examples. 

Edited 3 hours ago by farangkinok

[johng]

2 minutes ago, farangkinok said:

you will be at the mercy of either the bank(s) or the central government in the case of CBDCs.

 

It's quite alarming that people don't seem to understand  the very real and dangerous consequences  CBDC's  would/will have on their life in all aspects,  it means total control and monitoring the digital Panopticon of which there can be no escape.

They all agree "it's so easy"