*That's really quite interesting. I think it will get a wide readership.
I"ll give you a few cogent pull quotes
(…)
It's also true that at London fintech gatherings the excited visions of cashless society now occasionally come with a disclaimer that we should think about the power granted to those who control the system. Not only can payments intermediaries see every time you buy access to a porn site, but they have the ability to censor your transactions, like Visa, PayPal and MasterCard attempting to choke WikiLeaks by refusing to process people's donations. We could imagine some harsh sci-fi scenario in which a theocratic regime issues decrees to payments processors to block anyone buying books deemed sexually deviant. Such decrees could be automatically enforced via code, with subroutines remotely triggering smart locks to place the offending miscreant under house arrest while automatically deducting a fine from their account.
(…)
And so we get Visa's Cashfree and Proud campaign. If people really were ashamed of cash, they wouldn't need ads to tell them. Visa must engineer that shame to teach you that what you want is the same as what they want. And if you don't want it, just remember that cashless society is inevitable. Don't get left behind.
But this system will leave many behind. It is hardwired to include only those with access to a bank account; and bank accounts are hosted by profit-seeking corporations that operate at scale. They have no time for your individual idiosyncrasies. They cannot make profit off anyone who cannot easily be categorised and modelled on a spreadsheet.
So, good luck to you if you find yourself with only sporadic appearances in the official books of state, if you are a rural migrant without a recorded birthdate, identifiable parents, or an ID number. Sorry if you lack markers of stability, if you are a rogue traveller without permanent address, phone number or email. Apologies if you have no symbols of status, if you're an informal economy hustler with no assets and low, inconsistent income. Condolences if you have no official stamps of approval from gatekeeper bodies, like university certificates or records of employment at a formal company. Goodbye if you have a poor record of engagements with recognised institutions, like a criminal record or a record of missed payments….
This is about maintaining alternatives to the stifling hygiene of the digital panopticon being constructed to serve the needs of profit-maximising, cost-minimising, customer-monitoring, control-seeking, behaviour-predicting commercial bureaucrats.
