Monday, February 17, 2020

Corona Virus Next Step In Getting Rid of Cash

The coronavirus being broadcast across the world from Chinese city Wuhan has been having some immediate effects. Although China is already an international leader in cashless retailing and the adoption of smart phone payment systems, the epidemic has furthered this trend by reinforcing popular thought about the unsanitary nature of paper bills, as explained here.

It's been well-known that currency becomes coated with any number of evil bacteria, viruses and even illegal drug residue that can lead to problems with law enforcement. Somehow life has struggled along despite this most valuable part of human existence also being the carrier of its sickness and death. While there's been an international trend to move away from cash, see Sweden, for instance, the motivation for this has been based on economic and convenience factors rather than health concerns. 

The Chinese response to the Wuhan flu includes the quarantine and possible destruction of currency that may have been contaminated by viral exposure. This adds another dimension to the efforts of business, and its partner government, to control every aspect of trade, based this time on health concerns. 

What could be more effective in encouraging the public to look favorably on digital money than the idea that currency carries the seeds of death? This digital money, unlike the products of the government mints and printing presses, remains under the control of the government. It can't be carried away in the pockets or billfolds of its possessors. It can be reclaimed at any time. 

Digital money can be seen as a positive development for the state, at least in the state's terms. Maybe not so much for the citizenry. 

There are at least two factors that present themselves in this growing situation. First, bacteria and viruses are all over the place. Every human touches all kinds of things, not just money. Many things are touched by multiple humans. Does this mean that human health requires not touching anything? That door knobs and chairs and restaurant tables should be covered with  supposedly sterile latex covers or that patrons should wear disposable lab clothing to the movies? The very thought is absurd, although government and business policies have created an explosion of yellow reflective vests everywhere. We can look forward to bridal tuxedos and gowns made with reflective material. Wouldn't want the happy couple to be crushed by a passing auto on their way to the honeymoon limo.

Second, the adoption of an exclusively digital payment system by the government would immediately lead to efforts to bypass or ultimately thwart it. Individuals and groups opposed to this development, having a knowledge of world history, would create black market forms of barter and exchange to satisfy their needs. We are already seeing this in the Bit Coin phenomenon. 

Perhaps anarchists and freedom lovers of all stripes should encourage digital currency. It already exists in the primitive form we see in bank statements. Its expansion will provide a better opportunity to test options  outside of state purview and more congenial to freedom. 

   

No comments: