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The cashless dystopia : "With implantable chips, we are becoming hackable and trackable devices."





The cashless dystopia : "With implantable chips, we are becoming hackable and trackable devices."
The term “cashless society” is now in vogue. Every year, fintech companies present new solutions, and developers already offer to use chips instead of bank cards. Does this mean that we already have a cashless society under our skin in the most literal sense?
Modern technologies are not capable of providing a sufficient level of encryption for full-scale use of implantable microchips as bank cards. However, insertable technology expert Kayla Heffernan is convinced that this is just a matter of time. He says (3) : “Payments are the killer application. As soon as you can pay with it, more and more people will go ahead and get these.”

People are mainly concerned about security and confidentiality. This unusual technology looks frightening, mainly because of the possibility of easy hacking and potential surveillance. Cybercrime rate (5) in the world is not going to decline. However, as strange as it may seem, these problems have no relation to RFID and other available kinds of implantable chips – at least, for now.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

The cashless society from an ethical point of view









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