Comment Re:Cashless can't happen, here is why ... (Score 1) 753
No bitcoin was my suggestion, just worded smugly. Actually the answer is likely not bitcoin in its current form but bitcoin in principle. A decentralized system which is owned by no one where each "bank account" or wallet or whatever you want to call it is controlled by separate people.
Now there's no reason this would have to be tied to a smartphone. Sure that's one of the common ways of doing bitcoin transactions, but systems such has tokens have also been proposed. As for the fees, if you think that money doesn't have fees to keep it running you're only looking at part of the picture. Your taxes, and the general principle of printing money pay for the money to be printed and maintained. New currency is made, old one is destroyed or lost, all the while the value of your bank account drops by a few percent every year partially as a result of these "maintenance" activities, and partially as a result of government policy (quantitative easing anyone?).
Also cash is traceable. Take a look at the bill in your wallet and see the numbers? I guess you've never paid with a large bill and seen the cashier compare the number to a list, or you've never seen a bank validate the money you try to put in your account? The only difference between that and bitcoin is you can see the bitcoins change hands, whereas cash relies on people to look at the numbers,