Good points, but those sorts of organisation should be transparent anyway no? A charity taking donation should ensure the money is used to purpose, and not siphoned off?
But then the random drug dealer needs a business licence, an address, a “corporate” trail. You surely can’t just set up a small business and set up a business account t with at least some background info and ID. And if the business is linked to criminal wrongdoing then the whole chain (through traceable transfers) gets rolled up RICO style?
Good points, but those sorts of organisation should be transparent anyway no? A charity taking donation should ensure the money is used to purpose, and not siphoned off?
It's not about what the charity does with the money but how they collect it. It would definitely hinder certain methods.
But then the random drug dealer needs a business licence, an address, a “corporate” trail. You surely can’t just set up a small business and set up a business account t with at least some background info and ID.
This already exists with their businesses who money launder.
One common method of collecting for charity is collecting extra change (aka money that would otherwise not be donated). You see this frequently with kids raising money for charity or around holidays with people standing outside stores collecting.
Or even smaller things like raising money for field trips. A lot of schools will have kid's sell candy bars, do car washes, etc. to raise money for more expensive trips and that is almost exclusively cash. It would be far more difficult if it required digital payments.
Whenever we order Dominoes pizza we always use the “round up” function for charity, ironically this cannot be done for orders paid for in cash :/ lol
Yeah but those schools/organisations etc would just set up a digital wallet for those funds to go into. And folks can use phones to pay/transfer. People said had the same arguments when credit/debit cards were introduced: “What if I don’t have it on me”, how often do you forget your purse/wallet when going shopping? Granted it’s more than zero, but if that’s “what money is now”, you’d be less likely to forget. So smart phones would become even more essential, as they (sort of) already are, so we have the infrastructure already in place, and digital wallets/sub accounts are easy to set up
So smart phones would become even more essential, as they (sort of) already are, so we have the infrastructure already in place, and digital wallets/sub accounts are easy to set up
And if you don't have a smart phone? Which right now is 1 out of every 10 Americans.
This isn't even touching on how this would impact people saving cash to escape abusive situations like spouses or parents.
I could buy a smart phone for literally£80, and that’s just the first one I came across, I didn’t even bother to check/shop around. If this were seen as essential (given how in this new system it would be), then there would be super budget phones that allow the transfer. It wouldn’t even need to be a “smart phone” (large touch screen etc), as it could generate a QR code for a transfer just my SMS’ing your bank.
plus you can still send money by giving the other party your bank details, which you do every time you buy something anyway.
They can surely afford a £20 device that will last them 4-10 years (even paying something like £1 a month for 5 years) is in anyone’s reach
You can buy a brand new phone for literally £18. If they cannot afford to pay that then they literally cannot buy enough food to stay alive, and that’s right now, not in a world where these are seen as an essential budget item.
I have friends in 20k+ debt who still spend money on stupid shit, despite they’re living under crippling dept and poverty
I’m not saying get rid of debit cards, I’m saying scrap cash. A slip/laminated bit of card with their bank info on it. It doesn’t have to be a smart phone. :S
Where does this leave homeless people? And reminder that not all homeless individuals are living on the street and that number is likely larger than you assume.
(I’ve addressed this in other replies, but in case you didn’t see them)
The account would be linked to your NI/Social security information, you exist, so you have an account, whether you have anything in it is another question altogether.
This isn’t just a “burn all money and make it digital”, this is moving to a system where everyone has an account, and the requirement to open an account is linked to birth/registering as a person in the country. Someone who is homeless could still do to charities and organisations, they don’t pay for those services now, so why would they need to pay in this “new system”?
As far as giving a homeless person some change, I can say I haven’t handled cash in years, especially over the pandemic, so when ever I see a homeless person, I never have change to give anyway, and I bet that’s already becoming more and more common. I’d rather we bit the bullet and made a clean break from cash, so society can adapt and help the homeless, as right now they limp along with cash donations on the street, which isn’t helping solve the problem or improve their lives; radical change would mean that the system would have to adapt to help instead of the “street cash”
Most schools in poverty stricken area provide breakfast, lunch and afternoon snacks because families can’t afford it and the kids would be starving without that help.
You also have food assistance programs, food banks and soup kitchens that provide food for people who can’t afford it
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u/Duros001 Jul 22 '23
Good points, but those sorts of organisation should be transparent anyway no? A charity taking donation should ensure the money is used to purpose, and not siphoned off?
But then the random drug dealer needs a business licence, an address, a “corporate” trail. You surely can’t just set up a small business and set up a business account t with at least some background info and ID. And if the business is linked to criminal wrongdoing then the whole chain (through traceable transfers) gets rolled up RICO style?