BankSith on Nostr: “Macquarie Bank ditches cash at all branches and goes 'completely digital'” ...
“Macquarie Bank ditches cash at all branches and goes
'completely digital'”
👇🏻
The image below depicts content customers whose lives have become significantly more convenient. Convenience is the key focus here.
However, many customers are unaware that physical cash operates as a bearer asset, where they directly control the keys to your money. In contrast, digital tokens in banks are managed by third parties. When cash becomes digital fiat money, it transforms into an IOU (I owe you), with the bank owing the customer.
By the way, Central Bank Digital Currencies (CBDCs) change the game. Instead of dealing with banks, customers' counterparties become central banks, overseen by trustworthy central planning commissars. In a nanny state with centralized planning, programmable money allows the government to better care for its citizens. For instance:
1. During lockdowns, #CBDCs ensure that your spending is restricted to your designated area. You won't be able to spend it elsewhere.
2. If you've consumed too much meat this month, CBDCs can help you reduce meat consumption for the remainder of the month. By the way, did you know that bugs and insects are healthier than you might think?
3. Holiday flights might also be impacted. Families can be limited to a maximum of two flights per year. CBDCs won't allow booking a third flight. Sorry.
In a cashless society, #Bitcoin may be the last remaining form of digital cash where individuals hold the keys to their money.
Published at
2024-05-09 10:08:03Event JSON
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"content": "“Macquarie Bank ditches cash at all branches and goes\n'completely digital'”\n\n👇🏻\n\nThe image below depicts content customers whose lives have become significantly more convenient. Convenience is the key focus here. \n\nHowever, many customers are unaware that physical cash operates as a bearer asset, where they directly control the keys to your money. In contrast, digital tokens in banks are managed by third parties. When cash becomes digital fiat money, it transforms into an IOU (I owe you), with the bank owing the customer.\n\nBy the way, Central Bank Digital Currencies (CBDCs) change the game. Instead of dealing with banks, customers' counterparties become central banks, overseen by trustworthy central planning commissars. In a nanny state with centralized planning, programmable money allows the government to better care for its citizens. For instance:\n\n1. During lockdowns, #CBDCs ensure that your spending is restricted to your designated area. You won't be able to spend it elsewhere.\n\n2. If you've consumed too much meat this month, CBDCs can help you reduce meat consumption for the remainder of the month. By the way, did you know that bugs and insects are healthier than you might think?\n\n3. Holiday flights might also be impacted. Families can be limited to a maximum of two flights per year. CBDCs won't allow booking a third flight. Sorry.\n\nIn a cashless society, #Bitcoin may be the last remaining form of digital cash where individuals hold the keys to their money. https://image.nostr.build/a3afcea27089cbd07d9e49a3bb4c16b9edc753a2a2f4c0106ce3a8062ce1bd9d.jpg ",
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