The Garnet Mine

The New Cashless Society and Why You’ll Be Chipped

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Recently more than ever, cashless societies have been in our view. The new and increasing popularity of bitcoin and cryptocurrency, have contributed to cashless societies. On top of that, new ways of paying through your phone seems to be the norm now and rarely do we ever have to count our cash. However, How far away are we from a cashless utopia? What are the cons to this seemingly “flawless” plan? Countries like Sweden have been the leading example of nations hoping to get rid of cash within a few years. Sweden estimates that they could become completely cashless by 2025, especially with the recent trend of consumer’s spending choices. Ask anybody in Sweden how often they use real cash, and their answer will be almost never. This is especially true for younger people aged between 18-24, where up to 95 percent of their purchases were with a debit card or a smartphone app called Swish, a payment system set up by Sweden’s biggest banks. When it comes to all of the countries in the EU, 1 in 5 people say they never carry cash on them. It is getting scarier, since almost half of Sweden’s 1,400 banks no longer accept cash deposits, and that most of their cash machines have become dismantled. It is almost impossible to depend on cash itself these days. However, until the country becomes confident in the ability to protect their cyber based money, the government asks their citizens to hold onto some cash, and coins until then.  

While most people are accepting of this new idea, many are still not. One of the many reasons include the fear that the new popular microchip implements in people.  Although the fear seems far fetched, the concerns seem to be coming true. In Sweden alone, over 3,000 people got the microchip in their hand in order to live “a new and different” life. People in other countries, including the United States, are also testing the new technology on many employees of businesses.  However, the chip can give immediate access to your credit card, train pass, keys to your house, and all of your documents. So, why are people still hesitant to get this microchip? It’s because of the fear of control and hacking.

While it is fair to say that the new conspiracies of population control are definitely out of control, there is truth to the claim that bio-hacking is possible with this chip. The chip has the ability to control and track your health. It is this trait of the chip that makes it seem appealing to older folks especially.

Don’t worry about not having enough cash or forgetting your wallet in the car; you just have to scan your hand, and money would be immediately be taken out of your bank account. And can’t find your keys? Scan your hand! Don’t want to swallow a pill? Tell your chip to insert your medicine. There are so many purposes this chip can be used for.

So who wouldn’t want to try this new system of banking? That’s up to the person. There’s no doubt that we are making advancements on technology and lifestyles, but how far is too far?


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The student news site of Rye High School in Rye, New York
The New Cashless Society and Why You’ll Be Chipped