Comment Re:tracking (Score 1, Interesting) 366
It is also about delaying the big financial crash.In many countries of the world banks have a negative interest on money parked at the respective central bank. Of course they would like to forward this cost to their customer, but guess what would happen, if banks put negative interest on the savings of Joe Average. It would start a run on the banks, because everybody would prefer to put his money under their mattresses. This is the only reason there are still small interests of 0.01% or so on every type of savings, only because the banks know what happens if everybody tries to cash his savings.
As soon as cash has been abandoned, there will be no alternative for the customers but to accept it, at least those with incomes and savings to small to buy into gold or diamonds. Which also makes clear that abandoning cash will not solve the big cases of tax evasion or to impair organized crime: Those people will just keep on using those "currencies", as they do it already.