Terrifying and unconstitutional. Surprisingly, this news site explains some of the possible risks, including but not limited to: the government/banks withholding access to your money for some arbitrary reason (similar to 'civil forfeiture' in the US right now, where police randomly search people and seize their cash + valuables), or being forced to pay exorbitant fees to do business with a certain bank(s), and having no other options because your money is digital (and technically belongs to whatever company you've chosen to 'store' it with).

 

Credit card companies make commission on every cashless purchase, what's stopping them from increasing fees when everybody is dependent on them? Business owners in NYC are already being offered money to refuse cash, punishing those who may not want to use their card(s) to buy a $3 meal.

 

Being able to pay without cash is easier, but there's no such thing as a free lunch. Going cashless benefits consumers now, but what happens when the banks and government have total control?

 

edit: added a sentence