What will it mean for the US to become a cashless society?

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The world, for that matter.

You know its coming. It might already exist somewhere else on earth, which would be as embarrassing to me as fascinating, but it seems inevitable, doesn't it? I mean, eventually, we'll all have direct deposit of our wages or other income, and we'll use a card, maybe the card, maybe one of a few, and it will all be virtual. Every transaction. Physical money will cease to be valid. That is inevitable, isn't it?

I wonder what kinds of changes that will bring about. Big Brother's greatest tool? A tracking of every citizen's purchases, movements eventually? A more smoothly run society? A little of both? A UPC branding tattoo on each of us eventually? Not a thing in the world to worry about?

What would be overall effect, the natural progression, and the eventual outcome?