Winners and Losers: a cashless society

In Sweden, cash retail transactions have fallen 80%

Digital transactions in China have risen from 4% in the past 20 years to 34% in 2017.

A cashless society provides many benefits to society

Countries spend roughly 0.5% of their GDP managing physical cash

Consumers have better tracking of their money in digital forms, more convenience, and quicker and easier access to payments

Black market transactions dealt in cash will be strapped down

But consumers who value data privacy will also lose, as governments will likely use digital transactions as data

The poor and unbanked will lose out if cash is phased out

And society may become less democratic, with more power funneling towards institutions, governments, and financial corporations who control the digital system


will robots be better parents?

with the advancement of AI and robotic technology, one fear is the fear that robots will become better parents than humans

though no robot will ever be able to emulate true passionate emotion as humans are able to, the basic necessities of caring for a child can be easily replicated and be enhanced by robotic AI

robots won’t lash out at children

robots will be programmed to carefully care for the child

robots can be perfected to not make mistakes

robots can take the place as parent figure while the parents are working–although working for the child– the child may perceive the robot as a more caring figure due to the absence of the parents

sort of seems like a dystopian-future out of Black Mirror

but it’s a fear that is grounded

and it makes me question the necessary steps we need to take in order to ensure we don’t lose too much to the advancement of technology

even small steps towards habits that don’t completely depend on technology

maybe it’s good to put your phone at home once and a while