Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

4/2/2014 (3 months ago)

Catholic Online (www.catholic.org)

Cash-less society is rapidly approaching, analysts say

Some futuristic thinkers say that in the next 20 years or so, when people go to the market, they will pick up the items they need and leave - without the benefit of paying a cashier. Sensors will identify a consumer by a mark, their way of walking or facial recognition. Will cash money - paper and coins, become extinct, for a system that calls forth the "Mark of the Beast" as spoken in the Book of Revelations?

Theoretically, a unique identifier is attached to your digital wallet, could transmits payment for the groceries directly to the store.

Theoretically, a unique identifier is attached to your digital wallet, could transmits payment for the groceries directly to the store.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

4/2/2014 (3 months ago)

Published in Business & Economics

Keywords: Cash-less transactions, money, Bitcoins


LOS ANGELES, CA (Catholic Online) - Theoretically, a unique identifier is attached to your digital wallet, could transmits payment for the groceries directly to the store. Your virtual wallet has a dozen digital currencies in it, all with different values based on a variety of factors, including loyalty programs.

At some grocery stores, you might pay with their version of frequent-flier miles, while at others, you might pay with the equivalent of a virtual credit card.

It is better to light one tiny candle than to curse the darkness --

While this sounds fanciful, technologists and thinkers say that this is in fact the most conservative and likely of all future scenarios. "What was it like to see that old-fashioned building called a bank?" may be a question posed by our grand-children and great grandchildren.

The emergence of Bitcoin and the ecosystem growing around it is just one of the any symptoms of this New World Order.

And even if you believe Bitcoin is no more than a fad - and that may well be, given its volatility, security issues and potential regulatory challenges - it has raised the prospect of new virtual currencies and, at the least, cheaper and more efficient transaction mechanisms.

"Money is a very interesting philosophical idea in that we have all of humanity agreeing on this system," Ray Kurzweil, a futurist, inventor and author says. "So even though we may radically disagree on some things - like let's say the U.S. government and Al Qaeda - they both respect money. So it's remarkable how we have this universal respect for this very esoteric virtual construct."

Other technocrats such as Marc Andreessen, who led the team that invented the first commercial web browser, say they believe that new virtual currencies will come to dominate the way we pay for things in the future.

"Bitcoin offers a sweeping vista of opportunity to reimagine how the financial system can and should work in the Internet era, and a catalyst to reshape that system," he wrote recently.

Kurzweil, however, says that change may not be rapid as that. "We've built up respect for currencies associated with nations," he said. "People respect dollars, mostly, I think, because of the track record, relative stability."

---


Pope Francis: end world hunger through 'Prayer and Action'


ę 2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for July 2014
Sports:
That sports may always be occasions of human fraternity and growth.
Lay Missionaries: That the Holy Spirit may support the work of the laity who proclaim the Gospel in the poorest countries.



Comments


More Business & Economics

INDEBTEDNESS: One in three U.S. adults have 'debt in collections' Watch

Image of One in three American adults are so far behind in personal debt that many of their accounts have been referred to collections.

By Catholic Online (NEWS CONSORTIUM)

Some call it the American way, and it's become a most uncomfortable fact of life for many Americans. Personal debt is at an all-time high, and at least one in three Americans, 77 million people, have had their debt referred to collection agencies as a result. ... continue reading


LUMP OF COAL - LITERALLY! Coal companies pushed to brink of insolvency by Obama policies Watch

Image of The very fuel that fed the Industrial Revolution and powered U.S. growth for much of the past century, the coal industry finds itself on the brink of insolvency, with many companies going out of business.

By Catholic Online (NEWS CONSORTIUM)

Dealing with cheap natural gas and tighter regulation, the U.S. coal industry has fallen on hard times. The very fuel that fed the Industrial Revolution and powered U.S. growth for much of the past century, the coal industry finds itself on the brink of ... continue reading


The poor getting power in U.S. - typical household is now worth a third less Watch

Image of The old saw goes that when only a few people are winning and more than half the population is losing, surely something is amiss.

By Catholic Online (NEWS CONSORTIUM)

The rich get richer - and the poor have children. But seriously, folks, the poor is getting even poorer in the United States. Recovery from the last big recession in 2007, hasn't really taken off as of yet. Recent studies show that the average American ... continue reading


HAIL BRITANIA! Britain declared fastest growing economy in developed world Watch

Image of Britain is now

By CNA/EWTN News

There will always be an England, as the old song goes. While the United Kingdom has experienced highs and lows, it's always recovered - and prospered. This was born out by the recent news that Britain will be the best performing major economy in the developed ... continue reading


Amazon sits on slippery slope as investors pull out from company Watch

Image of Amazon, despite constant reinvestment into technology like smartphones and drones, continues to lose investors and profits.

By Catholic Online (NEWS CONSORTIUM)

Amazon lost over $16 billion in value on the night of July 26, a sign that investors were growing weary of the retail giant's repeated failures to make a consistent profit. LOS ANGELES, CA (Catholic Online) - This was Amazon's largest quarterly loss in two years, ... continue reading


The buck does stop here: Chinese currency set to close the gap between it and the dollar Watch

Image of A new study from China indicates that the Chinese yuan is likely to become the third most used international currency by 2019.

By Catholic Online (NEWS CONSORTIUM)

China's currency, the renminbi (RMB), is looking to become the third-largest international currency behind the U.S.'s dollar and the euro by 2019 said the Renmin University of China in a report published on July 20. LOS ANGELES, CA (Catholic Online) - Last year, ... continue reading


Financial consultant warns that U.S. is entering third largest stock bubble Watch

Image of A new study by financial consulting firm Smithers & Co. warns that the U.S. is entering another major stock bubble, the third largest in U.S. history.

By Catholic Online (NEWS CONSORTIUM)

A new research report by financial consultant Andrew Smithers, chairman of Smithers & Co., suggests that the U.S. is in the midst of another stock-market bubble, much like the bubbles in 1853, 1906, 1929, 1969 and 1999. LOS ANGELES, CA (Catholic Online) - ... continue reading


WARNING: The most important article you may ever read - We need a moral revolution at the top, before pitchforks appear in the street Watch

Image of In the game of plutocracy you start by owing money to the bank and as it progresses, you owe more.

By Marshall Connolly, Catholic Online (NEWS CONSORTIUM)

An article published in 2011 in Forbes is making the rounds again and people are talking, but despite the dust on the copy, it's a timely conversation. The article by Brendan Coffey reveals that there are four companies that control 147 other companies and those 147 ... continue reading


U.S. to shortly overtake Saudi Arabia, Russia in production of natural oil Watch

Image of In Texas and North Dakota, oil extraction is soaring at shale formations as companies split rocks using high-pressure liquid in a process known as fracking.

By Catholic Online (NEWS CONSORTIUM)

The United States has often found itself at the mercy of unstable nations for the majority of its oil imports. That day may soon be past after American begins the extraction of energy from shale rock, eventually overtaking both Saudi Arabia and Russia in oil ... continue reading


Unemployment among black Americans twice that among whites Watch

Image of The jobless rate among whites last month was 6.6 percent; among blacks, 12.6 percent. The unemployment rate for blacks has averaged about 2.2 times that for whites.

By Catholic Online (NEWS CONSORTIUM)

When African-Americans marched on Washington in 1963, it was under the banner of "Jobs and Freedom." There remains a great inequity with the former; the number of unemployed blacks in America remains twice as much as whites, and has remained that way for ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Jeremiah 18:1-6
1 The word that came to Jeremiah from Yahweh as ... Read More

Psalm, Psalms 146:1-2, 2-4, 5-6
1 Alleluia! Praise Yahweh, my soul!2 I ... Read More

Gospel, Matthew 13:47-53
47 'Again, the kingdom of Heaven is like a dragnet ... Read More

Saint of the Day

Saint of the Day for July 31st, 2014 Image

St. Ignatius Loyola
July 31: St. Ignatius was born in the family castle in Guip˙zcoa, Spain, ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter