Thursday, July 10, 2014

Business Document Reveals Cashless Society Coming Soon

Mark Matheny
July 11, 2014

And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six." Revelation 13:16-18

A Report from Cubic Corporation reveals the reality of a coming Cashless society in the near future.

According to the Cubic Corporation website they are:
....diversified systems and services company in transportation and defense markets worldwide. We are a leading technology and specialized services company with a worldwide presence in nearly 60 nations. Cubic employs approximately 8,000 people worldwide. 
 Cubic’s defense businesses provide comprehensive mission support services and training systems that strengthen the readiness of national militaries and security forces. Our communications and cyber products safeguard and transmit data in real world operations.We also track assets for commercial and military customers who need to know about their assets 24/7 anywhere in the world.
 The Document published in 2012 by Cubic Corporation  titled: "Urban Intelligence II-A Cashless Society is Coming Soon"discusses the near future of a cashless society, and some of the benefits that will be enjoyed by banking institutions and governments:

  • Cash is expensive to print, inspect, move, store and guard
  • Counterfeiting is always going to be a problem as long as paper currency exists 
  • Cash is favored by criminals because it does not leave a paper trail. Eliminating cash would make it much more difficult for drug dealers and other criminals to do business
  • A cashless society would give governments more control.Governments would be able to track virtually all transactions and would also be able to monitor tax compliance much more closely
The document reveals that currently in the United States, only about 7% of all transactions are still done in paper and coin currency. The document also discusses the use of facial recognition, voice analysis and the use of RFID implants in the current time and near future for improved security measures against identity theft.
The article states RFID use may be utilized by the TSA in the near future as well:

An RFID chip can be read up to four feet away, making it a prime candidate for TSA identity scanning. So the convenience factor on many levels may move the technology forward to enable a future cashless society

The video report by the Financial Times discusses the use of electronic currencies such as bitcoin, and the use of meta data attached which would be able to put limits on what could actually be purchased with the electronic credits.

By Mark Matheny

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